McAfee Enterprise and FireEye Products are set to merge into a single company that will have a revenue of almost $2bn.
The deal comes following the recent closure of Symphony Technology’s acquisition of FireEye. The new company is expected to come into effect on October 4 this year, when FireEye will change its corporate name and relaunch as Mandiant.
According to Dark Reading, the combined organisation will have over 40,000 customers and 5,000 employees and will be headed by CEO Bryan Palma, who joined FireEye as EVP in February 2021.
FireEye claims the transaction will enable both parts of the new business to ‘accelerate growth investments, pursue new go-to-market pathways and focus innovation on their respective solutions’. Meanwhile, unnamed security analysts have predicted the sale of FireEye’s products business would help drive growth for Mandiant ‘but generate uncertainty for users of its network, email, endpoint and cloud security tools’.
Dark Reading highlighted that the two companies have some overlap in their current cloud security product offerings, and each has its own security information and event management platforms.
Palma commented, “Our customers need an integrated security platform powered by artificial intelligence, machine learning, and automation. We have an incredibly talented team of security professionals who will work tirelessly to deliver this outcome for our customers.”
Copyright © 2021 RegTech Analyst
Copyright © 2018 RegTech Analyst