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Home Enterprise

Symphony Technology Proposes To Buy FireEye For A Billion Dollars

...FireEye's previous cyberattack influenced its current $1.2bn market value

Emeka Eni by Emeka Eni
June 3, 2021
in Enterprise, Security
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FireEye announces its consortium with Symphony Technology Group, a private equity firm that sets to buy the cyber-security tech company for $1.2bn. This deal demands FireEye brand name as well as its product business.

Conforming to FireEye, this deal is expected to proceed in-cash payment — $1.2bn for everything that concerns the cyber-security product company, including, Mandiant Solutions’, its subsidiary business products, such as cloud security, cyber forensics unit, FireEye’s network, and email.

Just as FireEye disclosed the proposed consortium with the private equity firm, the US tech company shares remained flat without regressing or progressing. By the end of 2021’s fourth quarter, the deal is expected to be 100 percent complete.

FireEye’s shares stagnancy might prove a sign that the cyber-security tech company’s shares might neither appreciate nor depreciate while we await the end of 2021, in line with Techbooky’s analyst.

TechBooky also suggests the previous data breach FireEye encountered towards the end of the period Coronavirus paused the world, influenced its current market value.

At the time, the US cyber-security firm was the center of cyberattacks. The reports of FireEye’s breach portray the possibility of a sovereign state-sponsored attack.

According to FireEye’s business ethics, they published their error for others to learn, which depicts transparency — a factor that bolsters corporate business. Microsoft acknowledges FireEye’s vulnerability and offered to duly scrutinize the cyberattack.

While the software company’s autonomous investigation was in progress, they discovered that Microsoft was also hit by the same perpetrators, Techbooky reports.

In the States, SolarWind also joined the list of cyber-security companies to suffer an unauthorized attack. While Microsoft was also discovered to be affected by SolarWind’s loss.

“After closing, we will be able to concentrate exclusively on scaling our intelligence and frontline expertise through the Mandiant Advantage platform.” FireEye chief executive, Kevin Mandia, said its business sale will bolster its subsidiary, Mandiant Solutions,

Mandia added: “while the FireEye Products business will be able to prioritize investment on its cloud-first security product portfolio,”

Symphony consortium with FireEye depicts a perfect acquisition by private equity. FireEye has reportedly joined the list of acquired tech companies — still in 2021 and the list continues.

Nonetheless, the fractioned analogy depicts private equities that have acquired 70% of ‘special purpose’ companies up for sale, in line with the FactSet, report.

Symphony Technology Group seems optimistic about acquiring FireEye — per the cyber-security feedback that confirmed FireEye’s board of directors agreed to assign a share buyback initiative that worth $500m.

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Tags: acquisitioncybersecurityfireeyesecurity
Emeka Eni

Emeka Eni

I am a tech enthusiast, creating contents, graphic designer and am Africa.

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