logo
Share SHARE
FONT-SIZE Plus   Neg

FireEye Acquires Mandiant For About $1 Bln.

FireEye (FEYE), the security software company, said Thursday it has acquired privately held Mandiant for about $1 billion. Mandiant is a provider of advanced endpoint security products and security incident response management solutions.

As per the terms, FireEye will issue an aggregate of 21.5 million shares and options to purchase shares of FireEye stock and pay about $106.5 million of net cash in the deal to the former Mandiant security holders. Also, FireEye granted certain performance-based retention equity incentives.

The acquisition, which recognizes the ever-increasing intensity of cyber attacks and follows nearly two years of collaboration, creates the industry's leading advanced threat protection vendor with the ability to find and stop attacks at every stage of the attack life cycle, FireEye said in a statement.

According to FireEye, Mandiant is an acknowledged leader in endpoint security, incident response, and remediation, with more than two million endpoints installed globally.

The deal brings together two highly complementary companies and creates an organization uniquely qualified to meet organizations' needs for real-time detection, contextual threat intelligence, and rapid incident response, the company said.

"Organizations today are faced with knitting together a patchwork of point products and services to protect their assets from advanced threats," said David DeWalt, CEO of FireEye.

"Together, the size and global reach of FireEye and Mandiant will enable us to innovate faster, create a more comprehensive solution, and deliver it to organizations around the world at a pace that is unmatched by other security."

Kevin Mandia, Mandiant's founder and chief executive officer prior to the acquisition, has been appointed by the FireEye board to the position of senior vice president and chief operating officer of FireEye.

Mandiant will be integrated with FireEye to provide global services and cloud solutions, including security consulting, incident response, and managed services. Mandiant's endpoint threat detection and response products will be incorporated as a core element of the FireEye Oculus platform.

FireEye stock closed Thursday at $41.13, down $2.48 or 5.69%, on a volume of 783 thousand shares on the Nasdaq.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Chuck E. Cheese pizza and arcade chain's parent company is planning for an IPO, reported Reuters. The public offering would be probably in the second half of 2017. According to the report, the chain has initiated discussions with banks, however has not yet hired any underwriters. The offering would help the restaurant chain for a valuation of around $1 billion. The Federal Aviation Administration said that SkyPan International Inc. will pay a civil penalty of $200,000 for violating federal regulations by flying remote-controlled aircraft in congested airspace over New York and Chicago. This is the largest civil penalty issued by the FAA against a drone operator. Citigroup Inc. on Wednesday reported a 7 percent increase in profit for the fourth quarter from last year as lower revenues were more than offset by decreases in cost of credit as well as operating expenses. Adjusted earnings for the quarter beat analysts' expectations, while revenues missed their estimates.
comments powered by Disqus
Follow RTT