McAfee Enterprise, FireEye Products Merged Into $2B Entity
Private equity giant Symphony Technology Group (STG) this week announced the merger of McAfee Enterprise and the newly acquired FireEye Products into a single entity with $2 billion in annual revenue.
The Menlo Park, Calif.-based STG has tapped FireEye’s Bryan Palma to head up the combined entity, which will continue to sell security products for endpoints, infrastructure, applications, and cloud deployments.
The STG announcement is the latest chapter in McAfee’s bumpy corporate saga. In March this year, McAfee Corp sold off the McAfee Enterprise business to a consortium led by STG in an all-cash transaction valued at $4 billion.
FireEye Products was purchased by STG in June this year for $1.2 billion after Mandiant decided to split off its solutions unit from the endpoint protection and cloud security product side of the house.
Symphony Technology Group also counts RSA Security among its high-profile portfolio companies.
In a brief statement, STG said the combination of McAfee Enterprise and FireEye Products will immediately create a pure play cybersecurity vendor more than 40,000 customers, 5,000 employees, and nearly $2 billion in annual revenue.