Security News > 2021 > June > FireEye products business sold for $1.2 billion

FireEye has entered into a definitive agreement to sell the FireEye products business, including the FireEye name, to a consortium led by Symphony Technology Group in an all-cash transaction for $1.2 billion, before taxes and transaction-related expenses.

The FireEye products business and Mandiant Solutions will continue to operate as a single entity until the transaction closes, allowing management and STG to develop a successful transition of the FireEye products business to a standalone entity within the STG portfolio.

"We believe this separation will unlock our high-growth Mandiant Solutions business and allow both organizations to better serve customers," said FireEye CEO Kevin Mandia.

"After closing, we will be able to concentrate exclusively on scaling our intelligence and frontline expertise through the Mandiant Advantage platform, while the FireEye products business will be able to prioritize investment on its cloud-first security product portfolio. STG's focus on fueling innovative market leaders in software and cybersecurity makes them an ideal partner for FireEye products. We look forward to our relationship and collaboration on threat intelligence and expertise."

"We are extremely impressed by the FireEye products business and the mission critical role it plays for its customers," said William Chisholm, Managing Partner at STG. "We believe that there is enormous untapped opportunity for the business that we are excited to crystallize by leveraging our significant security software sector experience and our market leading carve-out expertise."

FireEye has continuously innovated to advance its detection and prevention technologies through machine-learning and advanced analytics while extending across network, email, endpoint, and cloud security products, and the related security management and orchestration platform.

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