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FireEye to sell its products biz to Symphony Technology Group for USD 1.2bn


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FireEye, Inc on Thursday said it will sell its FireEye Products business, including the FireEye name, to a consortium led by Symphony Technology Group (STG) in an all-cash transaction for USD 1.2 billion.
New Delhi:
 The transaction will separate FireEye s network, email, endpoint, and cloud security products, along with the related security management and orchestration platform from Mandiant s controls-agnostic software and services, a statement said. 
This will enable both organisations to accelerate growth investments, pursue new go-to-market pathways, and focus innovation on their respective solutions, it added. 
The FireEye Products business and Mandiant Solutions will continue to operate as a single entity until the transaction closes, allowing management and STG to develop a successful transition of the FireEye Products business to a standalone entity within the STG portfolio, it said.  ....

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McAfee Enterprise business to be sold for US$4B


Private equity firm Symphony Technology Group (STG) has agreed to buy McAfee’s enterprise business for US$4 billion, turning the legendary cybersecurity firm into a pure-play consumer business.
The platform security company is following in the footsteps of top rival Symantec, which sold its enterprise business to Broadcom in November 2019 for US$10.7 billion and continues to operate its consumer business under the NortonLifeLock brand. This time around, McAfee’s enterprise business will be rebranded while its consumer business continues to be publicly traded under the McAfee name.
“STG is the right partner to continue strengthening our Enterprise business, and the outcome is a testament to the business’ industry-leading solutions and most notably to the outstanding contributions of our employees,” McAfee President and CEO Peter Leav said in a statement. “This transaction will allow McAfee to singularly focus on our consumer business.” ....

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