David DeWalt: FireEye Looks to Increase Speed of Innovation, Solution Delivery with $1B Purchase of Computer Forensics Firm Mandiant

David DeWalt, Fireeye - ExecutiveMosaic
David DeWalt

FireEye Inc. (NASDAQ: FEYE) has purchased computer forensics provider Mandiant Corp. for $1.05 billion in cash and stock, Reuters reported Thursday.

Jim Finkle writes the acquisition will serve to combine both companies’ cybersecurity technologies and founder Kevin Mandiant and Mandiant’s forensics personnel  will join FireEye.

“Organizations today are faced with knitting together a patchwork of point products and services to protect their assets from advanced threats, ” Dave DeWalt,  FireEye chairman and CEO, said.

DeWalt added FireEye aims for the combined operations to enable “to innovate faster, create a more comprehensive solution, and deliver it to organizations around the world at a pace that is unmatched by other security vendors.”

FireEye expects the transaction to immediately raise its earnings and estimates its 2014 revenue to grow by 50 percent over its 2013 results, according to the report.

Mandiant provides automated processes for identifying computer attacks and DeWalt told Reuters the company generates more than $100 million in annual sales.

Finkle writes FireEye will also pay $106.5 million in cash to Mandiant’s shareholders, including venture capital firm Kleiner Perkins Caufield & Byers and JPMorgan Chase’s private investment arm One Equity Partners.

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