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June 3, 2021
FireEye channel partners have a lot to look forward to when the company separates in two later this year.
That’s according to Bryan Palma, executive vice president of FireEye products. On Wednesday, FireEye announced it’s selling its products business, including the FireEye name, for $1.2 billion. A consortium led by Symphony Technology Group (STG) is the buyer.
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. FireEye and STG should close the deal by the end of the fourth quarter.
FireEye acquired Mandiant in late 2013. Post-closing, the company will continue to publicly trade as Mandiant.
The separation provides a significant opportunity for FireEye to expand its partnership with the channel, Palma said.
Keep up with the latest channel-impacting mergers and acquisitions in our M&A roundup.
FireEye’s Bryan Palma
“Specifically, it provides consulting firms, managed security firms and MSPs the opportunity to build services around the FireEye technologies,” he said. “All contracts will continue to be assumed by both companies so partners will continue to have the same access and relationships that existed pre-separation. After close, both companies are looking to forge a strong partnership designed to maximize the benefits to our joint customers and partners. They can also expect to benefit as the two companies share technology, telemetry, threat intelligence and expertise.”
The FireEye products business and Mandiant solutions will operate as a single entity until the transaction closes. Management and STG will develop a transition of the FireEye products business to a standalone entity within the STG portfolio.
“The transaction provides each business the opportunity to pursue new go-to-market pathways, focus innovation on their respective solutions, and better target growth investments,” Palma said. “The separation also allows FireEye to expand its relationship with the channel, and better positions Mandiant as controls agnostic.”
Post-closing, FireEye will be the name of the FireEye products business, he said.
Partners will be able to pick and choose products and services from both companies to suit their needs.
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