The FireEye emblem is seen exterior the corporate’s places of work in Milpitas, California, December 29, 2014.
Beck Diefenbach | Reuters
FireEye stated Wednesday it is promoting its merchandise enterprise, 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 e-mail merchandise.
Shares of FireEye have been comparatively flat after hours. The firm stated the deal is predicted to shut by the top of the fourth quarter.
FireEye was the topic of a cyberattack in December of final yr, which it believes was state-sponsored. Microsoft in February credited the corporate’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 enterprise.
“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 non-public fairness.
With the exception of particular objective acquisition corporations, seven of the 12 largest tech acquisitions within the U.S. in 2021 have been carried out by non-public fairness companies, in response to information from FactSet.
In Wednesday’s announcement, FireEye additionally stated that its board had authorized a share buyback program of as much as $500 million.
