On June 2, 2021, FireEye, Inc. announced that it has entered into a definitive agreement to sell the FireEye Products business, including the FireEye name, to a consortium led by Symphony Technology Group (STG) in an all-cash transaction for $1.2 billion, before taxes and transaction-related expenses. Wilson Sonsini Goodrich & Rosati advised FireEye on the transaction.
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, enabling both organizations to accelerate growth investments, pursue new go-to-market pathways, and focus innovation on their respective solutions. The FireEye Products business and Mandiant Solutions will continue to operate as a single entity until the transaction closes, allowing management and STG to develop a successful transition of the FireEye Products business to a standalone entity within the STG portfolio. The transaction is expected to close by the end of the fourth quarter of 2021, subject to customary regulatory approvals and closing conditions. FireEye also announced that its board of directors has approved a share repurchase program for up to $500 million of outstanding FireEye common stock.
The Wilson Sonsini team that advised FireEye on the transaction included:
Corporate/M&A
Melissa Hollatz
Broderick Henry
Tracy Sevush
Technology Transactions
Adam Shevell
Rosalind Schonwald
Morgan Dudkewitz
CFIUS
Joshua Gruenspecht
Seth Cowell
Employee Benefits and Compensation
Sriram Krishnamurthy
For more information, please see FireEye’s press release.