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FireEye promoting merchandise enterprise and title for $1.2 billion 

The FireEye brand is seen outdoors the corporate’s workplaces 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 Know-how Group for $1.2 billion in money.

The U.S. cybersecurity agency stated the sale will cut up Mandiant Options, its cyber forensics unit, from its cloud safety, community and electronic mail merchandise.

Shares of FireEye had been comparatively flat after hours. The corporate stated the deal is predicted to shut by the tip of the fourth quarter.

FireEye was the topic of a cyberattack in December of final 12 months, 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 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 newest instance of a big-dollar tech deal going to personal fairness.

Except for particular objective acquisition firms, seven of the 12 largest tech acquisitions within the U.S. in 2021 have been carried out by non-public fairness corporations, in keeping with 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.

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