McAfee Enterprise and FireEye Merge After STG Buyout

MSP TODAY NEWS

McAfee Enterprise and FireEye Merge After STG Buyout

By Laura Stotler

McAfee Enterprise and FireEye Products, two companies that have built out massive MSP and MSSP partner ecosystems, will merge under the ownership of private equity firm Symphony Technology Group (STG). The combined businesses serve 40,000 customers, maintain 5,000 employees and generate nearly $2 billion in annual revenues, according to STG.

Finalization of the merger is expected to happen in the fourth quarter of this year, said STG. The move stands to have major implications for the companies' combined ecosystem of MSP and MSSP partners who are heavily invested in the enterprise space the combined company will now focus on. Bryan Palma of FireEye will act as CEO of the new combined company, while McAfee's Ian Halifax will be CFO.

“I am energized to lead the integration of McAfee Enterprise and FireEye Products into the next chapter of our shared journey," said Palma, who was previously president and COO of BlackBerry and also worked at Boeing and Cisco Systems. "Our customers need an integrated security platform powered by artificial intelligence, machine learning, and automation. We have an incredibly talented team of security professionals who will work tirelessly to deliver this outcome for our customers.”

“Cyber risk is the number one threat facing modern organizations and we are excited to advance our growing portfolio of cybersecurity companies," added William Chisholm, co-founder and managing partner of STG. "McAfee’s Enterprise business has been integral to ensuring the protection of the digital assets of the largest enterprises in the world, with over 85 percent of the Fortune 100 firms being customers today.”

FireEye's sale to STG was finalized in June in a $1.2 billion cash transaction. The move separated the company's network, email, endpoint and cloud security products as well as its related security management and orchestration platform from its controls-agnostic software and services. The latter offerings are being offered through Mandiant, Inc. as part of a rebranding. The company's name change went into effect earlier this week.
 




Edited by Luke Bellos

MSPToday Contributing Editor

SHARE THIS ARTICLE
Related Articles

Microsoft Announces Microsoft Security Experts Managed Cybersecurity Services

By: Laura Stotler    5/23/2022

Microsoft has announced a new service category of managed cybersecurity services. The new Microsoft Security Experts includes three managed services d…

Read More

Ingram Micro Cloud Adds Wrike to Solution Portfolio

By: Greg Tavarez    5/23/2022

Wrike announced a new agreement with Ingram Micro Cloud. Ingram Micro Cloud's resellers will be able to offer Wrike's platform to organizations adapti…

Read More

Security Leaders Struggle to Communicate Risks and Needs

By: Laura Stotler    5/20/2022

A new report from Blue Lava and AimPoint Group found that security leaders in the U.S. struggle to communicate their risks and needs to higher ups at …

Read More

Ingram Micro Named Fortinet Distributor of the Year

By: Greg Tavarez    5/19/2022

Ingram Micro Inc. was named Fortinet's Distributor of the Year for the U.S. for the second consecutive year

Read More

SOC Prime Launches Search Engine for Threat Hunting and Detection

By: Laura Stotler    5/19/2022

SOC Prime has unveiled a new search engine that specializes in providing information related to threat hunting and detection as well as cyber threat i…

Read More