FireEye Buys Verodin in $250M Cash-and-Stock Deal; Kevin Mandia Quoted

Kevin Mandia

FireEye (Nasdaq: FEYE) has acquired McLean, Va.-based cybersecurity instrumentation technology provider Verodin through a cash-and-stock transaction worth approximately $250M.

“Verodin gives us the ability to automate security effectiveness testing using the sophisticated attacks we spend hundreds of thousands of hours responding to, and provides a systematic, quantifiable and continuous approach to security program validation,” FireEye CEO Kevin Mandia said in a statement published Tuesday.

“Finally, organizations will have a reliable and consistent way to quantify cyber risk in a manner understandable to frontline technicians and in the board room,” Mandia added.

FireEye will gain access to the Verodin Security Instrumentation Platform, which measures and assesses security environments against newly detected and existing threats and helps identify gaps in security effectiveness due to changes in the information technology environment, equipment configuration and evolving tactics used by attackers.

Milpitas, Calif.-based FireEye will combine the Verodin platform with its Helix security orchestration tools and continue to offer Verodin products through its channel partners and through the latter company’s resellers.

The deal closed Tuesday and FireEye expects the transaction to be accretive to cash flow, revenue and non-GAAP operating income in 2020 and add more than $70M to 2020 billings.

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