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FireEye Selling Its Products Business and Name for $1.2 Billion – NBC New York

  • FireEye is promoting its merchandise business, together with the FireEye title, to a consortium led by private-equity agency Symphony Technology Group for $1.2 billion.
  • The deal will separate Mandiant Solutions, its cyber forensics unit, from its community, electronic mail, and cloud safety merchandise.

FireEye stated Wednesday it is promoting its merchandise business, together with the FireEye title, to a consortium led by private-equity agency Symphony Technology Group for $1.2 billion in money.

The U.S. cybersecurity agency stated the sale will break up Mandiant Solutions, its cyber forensics unit, from its cloud safety, community and electronic mail merchandise.

Shares of FireEye had been comparatively flat after hours. The company stated the deal is anticipated to shut by the tip of the fourth quarter.

FireEye was the topic of a cyberattack in December of final year, which it believes was state-sponsored. Microsoft in February credited the company’s transparency in regards to the breach in serving to it uncover that had additionally been attacked.

FireEye CEO Kevin Mandia stated the sale will assist it develop its Mandiant Solutions business.

“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,” continued Mandia.

The sale is simply the most recent instance of a big-dollar tech deal going to personal fairness.

With the exception of particular function acquisition firms, seven of the 12 largest tech acquisitions within the U.S. in 2021 have been carried out by non-public fairness companies, based on information from FactSet.

In Wednesday’s announcement, FireEye additionally stated that its board had authorised a share buyback program of as much as $500 million.

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