FireEye, a cybersecurity company, has entered into an agreement to sell its products business and brand name to a consortium led by the private equity firm Symphony Technology Group for USD 1.2 billion cash. The transaction is subject to regulatory approval and is expected to close by the end of 2021.

The sale will split FireEye’s cloud, network, email, and endpoint security products—along with its security management and orchestration platform—from Mandiant Solutions, the company’s cyber forensics unit.

Following the transaction, the company will focus on the expansion of its Mandiant Advantage platform. The company also announced board approval for a USD 500 million share repurchase program.

Founded in 2004, FireEye offers cybersecurity solutions to proactively detect and respond to cyberthreats. These include protection solutions in the areas of network security, endpoint security, email security, and cloud security. FireEye also provides Managed Detection and Response (MDR) services and security consulting. As of May 2021, the company served over 10,000 clients across 103 countries, including more than half of the Forbes Global 2000.