Cyber security giant FireEye has agreed to sell its product business for $ 1.2 billion to a consortium led by private equity firm Symphony Technology Group.
The bar deal will separate FireEye, the maker of network and email cybersecurity products, from its digital forensics and incident response arm, Mandiant.
FireEye chief executive Kevin Mandia said the deal will unlock the “fast growing” Mandiant business and allow it to stand alone as a separate company with incident response and security testing.
The move to split the two companies came almost a decade after FireEye acquired Mandiant and named Mandia CEO.
Mandia said, “STG’s focus on promoting innovative leaders in software and cybersecurity makes them an ideal partner for FireEye products. We look forward to our relationship and collaboration in the area of threat intelligence and expertise. “
STG Managing Partner William Chisholm said there was “a tremendous untapped opportunity for the company that …