Security Market Segment LS
Tuesday, 21 April 2020 09:58

Is FireEye geting ready to put Mandiant on the block?

Is FireEye geting ready to put Mandiant on the block? Image by Bruno /Germany from Pixabay

Security outfit FireEye has renamed its expertise- and intelligence-backed offerings to its threat intelligence unit, Mandiant, raising the possibility that it may look to sell this unit, one which it acquired in 2013 for about US$1 billion.

The company has placed a number of offerings under the name Mandiant Solutions:

  • Mandiant Consulting;
  • Mandiant Managed Defence;
  • Mandiant Threat Intelligence;
  • Mandiant Expertise On Demand; and
  • Mandiant Security Validation (formerly Verodin, a company that FireEye bought in 2019).

Shortly after it was acquired by FireEye, Mandiant hit the headlines when it named an alleged Chinese group as being behind attacks on more than a hundred organisations in the US and other English-speaking countries, dating back more than seven years.

It was the first time that an American security firm had gone out on a limb and directly implicated another country as being responsible for cyber attacks.

Last week, FireEye said the re-organisation was meant "to streamline options and simplify the process of identifying solutions our customers need to proactively combat cyber threats".

This is not the first time that FireEye has been the subject of speculation regarding a sale. Last October, the company was reported to be considering a sale to a private equity firm, having hired Goldman Sachs to provide advice on a potential sale.

An earlier bid had failed to attract strategic buyers, the report said.

In 2016, too, FireEye was reported to have hired Morgan Stanley to look at the possibility of a sale, but finally rejected two offers, one of them from Symantec.

Symantec's enterprise division was sold to Broadcom last year.

For many years, the security industry has had no huge companies, with a number of firms all having similar market caps, in the US$4 billion to US$2 billion cap. In recent years, CrowdStrike, the firm at the centre of the Democrat mail leak and Russiagate controversy, and Okta have both gone public and are now valued at more than US$12 billion each.

FireEye went public in 2013, but has not had the best results to show thereafter. Its stock has been mostly stuck under US$20 since 2016.

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Sam Varghese

Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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