FireEye Announces Sale of FireEye Products Business to Symphony Technology Group for $1.2 Billion

chrisonechrisone Senior MemberMember Posts: 2,230 ■■■■■■■■■□
edited June 4 in General

FireEye Announces Sale of FireEye Products Business to Symphony Technology Group for $1.2 Billion

This is the same company that bought and currently owns McAfee. Based on the article it seems like the FireEye brand will continue to function as is, but without Mandiant. So looks like its just changing ownership.

"MILPITAS, Calif., June 2, 2021 – FireEye, Inc. (NASDAQ: FEYE) today announced it has entered into a definitive agreement to sell the FireEye Products business, including the FireEye name, to a consortium led by Symphony Technology Group (STG) in an all-cash transaction for $1.2 billion, before taxes and transaction-related expenses."

Seems like both entities were looking for a little breathing room from each other.

“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.”
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