FireEye to sell products business for $1.55 billion – Security

US cyber security firm FireEye said it would sell its products business, including the FireEye name, to a consortium led by private-equity firm Symphony Technology Group for US$1.2 billion (A$1.55 billion) in cash.

The deal will separate FireEye’s network, email and cloud security products from its cyber forensics unit, Mandiant Solutions.

The deal is expected to close by the end of the fourth quarter, the company said.

FireEye, one of the largest cyber security firms in the United States, also said its board had approved a share buyback program of up to US$500 million.

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