FireEye to sell products business for $1.2B, will rebrand as Mandiant

<div></div> <article id="post-2693750" class="border-top clearfix article-wrapper post-2693750 post type-post status-publish format-standard has-post-thumbnail category-cloud category-enterprise category-security category-business tag-category-computers-electronics-computer-security tag-cybersecurity tag-fireeye tag-mandiant vb_post_designations-homepage has-thumbnail"> <aside id="" class="MainBlock__sidebar"> <div class="vb_widget widget sidebar-widget-featured-event"> <h2 class="widgettitle">Transform 2021</h2> <p class="sidebar-widget-featured-event-description">Elevate your enterprise data technology and strategy.</p> <p> July 12-16</p> <p> <a href="https://venturebeat.com/event/transform-2021/register/#?utm_source=vbhouse&utm_medium=sidebar&utm_content=vbregistration&utm_campaign=elavate" rel="noopener" target="_blank" class="sidebar-widget-featured-event-cta">Register Today</a> </div> <div id="browsi_left_margin"></div> </aside> <p><!-- #secondary .widget-area --></p> <div class="article-content"> <div id="boilerplate_2682874" class="post-boilerplate boilerplate-before"> <p><em>Elevate your enterprise data technology and strategy at <a href="https://venturebeat.com/event/transform-2021/register/#" data-type="URL" target="_blank" rel="noreferrer noopener">Transform 2021</a></em>. </p> <hr class="wp-block-separator is-style-wide"> </div> <p>(<em>Reuters</em>) — U.S. cybersecurity firm <a href="https://venturebeat.com/2020/12/09/u-s-cybersecurity-firm-fireeye-said-it-was-hacked-likely-in-a-state-sponsored-attack/">FireEye</a> said on Wednesday it would sell its products business, including the FireEye name, to a consortium led by private-equity firm Symphony Technology Group for $1.2 billion in cash.</p> <p>The deal will separate FireEye’s network, email and cloud security products from its cyber forensics unit, Mandiant Solutions.</p> <div id="ac-lre-player-ph"> <div id="ac-lre-player"></div> </div> <p>The deal is expected to close by the end of the fourth quarter, the company said.</p> <p>FireEye, one of the <a href="https://venturebeat.com/2013/09/20/fireeye-ipo-2/">largest cybersecurity firms</a> in the United States, also said its board had approved a share buyback program of up to $500 million.</p> <p>The company originally <a href="https://venturebeat.com/2014/01/02/fireeye-buys-mandiant-for-around-1b-in-biggest-security-deal-of-the-year/">acquired Mandiant</a>, founded by Kevin Mandia, who became FireEye’s chief executive, for about $1 billion in early 2014. Mandiant will return as an independent company, focused on cyber-incident response and cybersecurity testing, and will be publicly traded following the deal.</p> <p>“With the separation, you get simplicity, you get focus. Together we’re in a lot of markets,” Mandia said in an interview with Reuters about the sale. “A lot of it really was resource constraint.”</p> <p>“FireEye can’t do everything,” he added.</p> <p>The purchase of FireEye marks a major turning point in the rapidly evolving U.S. cybersecurity marketplace. The still nascent industry has seen numerous companies bought and merged in just the past several years.</p> <p>In March, Symphony also purchased <a href="https://venturebeat.com/2021/03/08/mcafee-sells-its-enterprise-cybersecurity-business-to-private-equity-firm-for-4b/">McAfee’s</a> enterprise business division for about $4 billion. Last year, chipmaker Broadcom purchased the enterprise business of <a href="https://venturebeat.com/2019/08/09/broadcom-acquires-symantecs-enterprise-division-for-10-7-billion/">Symantec</a>, another major industry player, for about $10.7 billion.</p> <p>FireEye is one of the best-known firms in the industry because it has handled many of the most <a href="https://venturebeat.com/2021/02/24/solarwinds-microsoft-fireeye-and-crowdstrike-defend-conduct-in-major-breach/">high-profile hacking incidents</a> in U.S. history.</p> <div id="boilerplate_2660155" class="post-boilerplate boilerplate-after"> <h3>VentureBeat</h3> <p>VentureBeat’s mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact.</p> <p>Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. 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