FireEye, a threat intelligence company, and McAfee, an industry-leading web security provider, have entered into an agreement to merge their spin-offs, McAfee Enterprise and FireEye Products, into a USD 2 billion cybersecurity entity. The merger will follow upon the closing of Symphony Technology Group's (STG) acquisition of FireEye's product business in Q4 2021.

The combined entity will have a headcount of 5,000 employees, over 40,000 customers, and nearly USD 2 billion in revenue. Bryan Palma will be appointed as the chief executive officer (CEO) and Ian Halifax will join as the chief financial officer (CFO). The product lines of McAfee Enterprise and FireEye Products will be combined into a single cloud and on-premise security portfolio that aims to protect customers across endpoints, infrastructure, applications, and the cloud.

In June 2021, FireEye entered into an agreement to sell its product business and brand name to a consortium led by STG for USD 1.2 billion cash. The sale will split FireEye’s cloud, network, email, and endpoint security products, along with its security management and orchestration platform, from Mandiant Solutions. FireEye will operate as an independent brand after the transaction closes in Q4 2021 (October 4, 2021), while Mandiant Solutions will use the proceeds to focus on its own expansion. This follows STG’s USD 4 billion acquisition of McAfee’s Enterprise business in July 2021.

Established in 2004, FireEye focuses on offering cybersecurity solutions to proactively detect and respond to cyberthreats in the areas of cloud security, endpoint security, network security, extended detection and response (XDR), and managed detection and response (MDR). The company has also carried out several acquisitions to bolster its cybersecurity offerings. Most notable include that of cyber forensics and incident response company Mandiant Solutions for USD 1 billion in 2014.