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  • Thursday, November 21, 2024

Private Equity Firm STG Closes $1.2B Buy of FireEye Products Business

A Symphony Technology Group-led consortium has closed its $1.2 billion cash acquisition of the FireEye Products business from Mandiant (Nasdaq: MNDT) to create a new pure-play cybersecurity vendor.

Friday’s announcement of the deal closing came four days after Mandiant’s rebranding move and stock ticker symbol update.

STG said it intends to combine FireEye Products with McAfee Enterprise and named Bryan Palma, former executive vice president of the private equity firm’s newly acquired business, as CEO of the combined organization.

Mandiant plans to share product telemetry and threat intelligence with the new company to support joint customers through a reseller partnership agreement.

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