McAfee and FireEye $2 billion merger details

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Cybersecurity firms McAfee and FireEye will reportedly be merged to form a $2 billion business by early 2022. And the 40,000 customers (of both firms) and 5000 employees will soon work together to create a benchmark in security business from then on.

Highly placed sources reporting to Cybersecurity Insiders have reported that Bryan Palma, the former President of Blackberry and Cisco, will lead the newly merged company. And Ian Halifax, who worked for Riverbed Technologies earlier as the CFO, will now lead the firm in the same designation from November this year.

Symphony Technology Group (STG) who acquired McAfee’s $1.35 billion enterprise business in March and FireEye products in September for $1.2 billion has made an official announcement that it is planning to merge both businesses by this year end, only to emerge as a bigger integrated technology conglomerate that will offer AI, machine learning and automation driven products to capture the security market.

Note 1- McAfee was a business arm of Intel’s Security Division till March 2021 and after STG deal it recently partnered with Google Cloud’s Infrastructure as an endpoint security technologist.

Note 2- California based FireEye is a cybersecurity company that offers hardware, software and services related to detection and prevention of online threats. In June 2021, STG purchased the company and is currently busy investigating sophisticated attacks that hit JP Morgan Chase, Sony Pictures, Anthem and Target.

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Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security

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