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    Home»Deals & Transactions»FireEye to sell products business for $1.2 billion to Symphony-led investor group
    Deals & Transactions

    FireEye to sell products business for $1.2 billion to Symphony-led investor group

    June 3, 2021Updated:June 3, 20211 Min Read
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    The FireEye logo is seen outside the company's offices in Milpitas, California, December 29, 2014. FireEye is the security firm hired by Sony to investigate last month's cyberattack against Sony Pictures. Picture taken December 29. REUTERS/Beck Diefenbach (UNITED STATES - Tags: BUSINESS SCIENCE TECHNOLOGY CRIME LAW LOGO) - RTR4JTRG
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    U.S. cybersecurity firm FireEye Inc 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.

    The deal will separate FireEye’s network, email and cloud security products from its cyber forensics unit, Mandiant Solutions.

    The deal is expected to close by the end of the fourth quarter, the company said.

    FireEye, one of the largest and best-known cybersecurity firms in the United States, also said its board had approved a share buyback program of up to $500 million.

    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.

    Read more/Source:  Salt Wire Network

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