The FireEye emblem is seen outdoors the corporate’s workplaces in Milpitas, California, December 29, 2014.
Beck Diefenbach | Reuters
FireEye mentioned Wednesday it is promoting its merchandise enterprise, together with the FireEye identify, to a consortium led by private-equity agency Symphony Expertise Group for $1.2 billion in money.
The U.S. cybersecurity agency mentioned the sale will cut up Mandiant Options, its cyber forensics unit, from its cloud safety, community and e mail merchandise.
Shares of FireEye had been comparatively flat after hours. The corporate mentioned the deal is anticipated 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 mentioned the sale will assist it develop its Mandiant Options enterprise.
“After closing, we will focus completely on scaling our intelligence and frontline experience by means of the Mandiant Benefit platform, whereas the FireEye Merchandise enterprise will be capable of prioritize funding on its cloud-first safety product portfolio,” continued Mandia.
The sale is simply the most recent instance of a big-dollar tech deal going to personal fairness.
Apart from particular goal acquisition firms, seven of the 12 largest tech acquisitions within the U.S. in 2021 have been carried out by personal fairness corporations, based on information from FactSet.
In Wednesday’s announcement, FireEye additionally mentioned that its board had authorized a share buyback program of as much as $500 million.