Security News > 2021 > June > FireEye sold to McAfee's new owners for $1.2bn as Mandiant split into standalone firm again
FireEye has been sold for $1.2bn to the same American private equity fund that bought McAfee's enterprise security business, severing it from infosec stablemate Mandiant.
The sale to Symphony Technology Group will see threat intel and incident response business Mandiant return to the market as a standalone operation in Q4 this year, FireEye said in a statement.
"We believe this separation will unlock our high-growth Mandiant Solutions business and allow both organizations to better serve customers," added FireEye chief exec Kevin Mandia.
"After closing," continued Mandia, "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."
"We are extremely impressed by the FireEye Products business and the mission critical role it plays for its customers," burbled William Chisholm, STG's managing partner.
FireEye investors were informed in a conference call yesterday that cyber security spending is expected to reach 3.5 per cent of global GDP by 2030.