FireEye announced today it will sell its products business, including the FireEye name, to Symphony Technology Group for $1.2 billion in cash. The remaining company will be called Mandiant Solutions.3ews
This transaction will separate FireEye's network, email, endpoint, and cloud security products, as well as the related security management and orchestration platform, from Mandiant's software and services. The Mandiant division has become better known for its work in threat intelligence and security expertise, helping business around the world detect and remediate attacks.
The split will enable both organizations to "accelerate growth investments, pursue new go-to-market pathways, and focus innovation on their respective solutions," officials wrote in a release.
"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," said FireEye CEO Kevin Mandia in a statement.
Both businesses will continue to operate as a single entity until the deal closes, which is expected to be in the fourth quarter of 2021, giving STG time to transition the FireEye Products business to a standalone entity within its portfolio, officials said in a statement.
Read the full release for more information.