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About the Sale of Products Business to Symphony Technology Group

On June 2, FireEye announced the sale of the FireEye Products business to Symphony Technology Group, a private equity partner to market-leading companies in data, software, cyber security, and analytics.

When completed, the transaction will separate FireEye’s network, email, endpoint, and cloud security products and related security management and orchestration platform from Mandiant’s controls-agnostic software and services.

We believe the transaction is an important step forward to better serve our customers and partners, as it will enable both organizations to accelerate growth investments, pursue new go-to-market pathways, and focus innovation on their respective solutions. The agreement includes a commitment to building and preserving a strong partnership, including continued collaboration between FireEye Products and Mandiant Solutions, as well as shared threat intelligence and product telemetry.

"We are extremely impressed by the FireEye Products business and the mission critical role it plays for its customers. We believe that there is enormous untapped opportunity for the business that we are excited to crystallize by leveraging our significant security software sector experience and our market leading carve-out expertise."

- William Chisholm, Managing Partner at Symphony Technology Group

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"I am proud of the progress our teams have made in protecting our customers and creating a safer world for the broader community, with innovative technology, world-class intelligence and frontline expertise. I am convinced the best is yet to come as we see the newly independent FireEye and Mandiant build on these strengths."

- Kevin Mandia, CEO, FireEye

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Frequently Asked Questions

Q: When does the split become effective?

A: June 2, 2021, FireEye announced a Definitive Agreement to sell our FireEye Products business to Symphony Technology Group (STG). We anticipate the transaction will officially close and become effective by the end of Q4.

Q: What is the name of each company going forward?

A: FireEye Products will retain the FireEye name. Post-close, the remaining company will be renamed Mandiant.

Q: What is the Management Team of each company going forward?

A: FireEye – will be led by Bryan Palma, and his current leadership team – Michelle Salvado, Ramesh Gupta, and Sean Morton. Graeme Wells will join Bryan’s leadership team, and lead Customer Success & Support. Pat Sheridan and Brad Arnold will then report to Bryan, overseeing global sales and sales engineering, respectively.

A: Mandiant – Post-closing, Mandiant will consist of Consulting, Managed Defense, and the solutions delivered through the Mandiant Advantage platform, including Threat Intelligence, Validation, and Automated Defense. Kevin will remain CEO, and John Watters will remain President and Chief Operating Officer. Alexa King, Barbara Massa, and Frank Verdecanna will continue to report directly to Kevin. Chris Key, Sandra Joyce, Jurgen Kutscher, Marshall Heilman, and Peter Bailey will continue to report to John, as will Bill Robbins, who will be the Chief Revenue Officer.

Q: Why is this happening?

A: By joining STG’s portfolio of companies, FireEye’s Products business accelerates its pivot toward becoming the leading, cloud-first XDR platform extending across network, email, security management and orchestration, and endpoint.

For Mandiant, the separation allows for a clearer focus on modernizing security operations with the Mandiant Advantage platform, scaling frontline intelligence and our world-class services expertise through software as a service. This supports our goal to close the security gap by automating our frontline intelligence and expertise and making it accessible and actionable to organizations of all sizes.

Q: Is Mandiant / FireEye still holding a CDS event in October?

A: Yes, we will be holding the Cyber Defense Summit (CDS) event the week of October 4, 2021.

 

If you have any additional questions, please contact your account representative or another member of our team.