A consortium led by Symphony Technology Group (STG) will acquire the FireEye Products business, including the FireEye name, in an all-cash transaction for $1.2 billion.
The transaction, which is expected to close by the end of the fourth quarter of 2021, will separate FireEye’s network, email, endpoint, and cloud security products, along with the related security management and orchestration platform, from Mandiant’s controls-agnostic software and services.
“We believe this separation will unlock our high-growth Mandiant Solutions business and allow both organizations to better serve customers,” said FireEye Chief Executive Officer 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.”
Mandiant Solutions has established its position as the market leader in threat intelligence and cybersecurity expertise from the front lines, serving enterprises, governments and law enforcement agencies worldwide.
FireEye pioneered the advanced threat detection market with the introduction of its Multi-Vector Execution (MVX) engine for network security.
FireEye Acquires Mandiant for $1 Billion
