FireEye has agreed to sell much of its enterprise security business to Symphony Technology Group for USD 1.2 billion in cash. The group will continue under the Mandiant name, focusing on its cybersecurity business. The deal follows Symphony agreeing the takeover of McAfee's enterprise business in March.
The FireEye deal includes the company's network, email, endpoint, and cloud security products, along with the related security management and orchestration platform. These will be separated from Mandiant’s software and services, enabling both organizations to pursue growth on their own. They will continue to operate as a single company until the takeover is completed (expected in Q4) and also partner in future to serve joint customers under a reseller and market cooperation agreement.
Symphony expects to complete the McAfee takeover also in Q4. The private equity company owns a number of other enterprise software and analytics companies, including RSA, Connexity, Sciforma and Escalent.
