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FireEye gets $400mn investment, buys Respond Software for $186mn
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SME Times News Bureau | 20 Nov, 2020
Cloud-based cyber security firm
FireEye has received a $400 million strategic investment led by private
equity firm Blackstone Group to create the industrys leading
intelligence-led cyber security platform and services company.
Shares of FireEye jumped nearly 10 per cent in late trading on Thursday.
Blackstone will be joined by ClearSky, a cyber security-focused investment firm, as a co-investor in the transaction.
"Blackstone
and ClearSky have a track record of developing and supporting
industry-leading cyber security companies. Their investment validates
our vision and provides financial, operational and leadership resources
to accelerate our strategy," said Kevin Mandia, FireEye chief executive
officer.
FireEye said it intends to use the funds to support strategic growth initiatives.
In a separate statement, FireEye announced it will acquire security startup Respond Software for $186 million in cash and stock.
In
conjunction with Blackstone's investment in FireEye, FireEye will
appoint Viral Patel, Senior Managing Director at Blackstone, to its
Board of Directors upon the close of the transaction.
"Intelligence
and expertise are critical in delivering effective cyber security
solutions, and FireEye is an industry leader in both. We are excited to
partner with the company's board and management to accelerate execution
on their vision," said Patel.
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