FireEye acquires Mandiant in red hot $1 billion deal
3rd Jan 2014 | 12:30
Security firm upgrades with new company's knowledge
Network security giant FireEye has taken a step further to enhancing its credentials in cyber security with the acquisition of Mandiant.
Mandiant is a privately held provider of advanced endpoint security products and security incident response management solutions. The Acquisition, which comes after nearly two years of collaboration between the companies, was closed on 30 December 2013 in a deal worth over $1 billion (£608 million, AU$1.11 billion).
The security firm made a name for itself while being at the forefront of network breach response. The announcement also saw a rise of 24 per cent in FireEye's shares.
FireEye provide solutions to around 1,500 customers worldwide using its virtual machine-based web, email, data centre and mobile security. According to them, Mandiant bring expertise in deep security and incident response.
"Organisations today are faced with knitting together a patchwork of point products and services to protect their assets from advanced threats," said David DeWalt, chairman and 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 organisations around the world at a pace that is unmatched by other security vendors."
Kevin Mandia, Mandiant's founder and CEO prior to the acquisition, has been appointed by the FireEye board of directors to the position of senior VP and COO.
"The combination of FireEye and Mandiant will deliver end-to-end protection and meaningful value to customers," Mandia said. "By joining FireEye and Mandiant, we will be able to deliver fully integrated products and services that help organisations protect themselves from attacks.
"The combined product portfolio will cover all the major attack points within an organisation, and our expanded services capacity will allow us to quickly pivot to incident response when necessary to reduce the impact of security breaches."