Milpitas, CA-based cybersecurity company FireEye, Inc. (NASDAQ: FEYE) acquired iSIGHT Partners, a Dallas, Texas-based provider of a cyber threat intelligence platform for global enterprises, for up to $275m.
Under the terms of the agreement, FireEye will pay approximately $200m in cash. Additionally, the former iSIGHT shareholders will have the opportunity to earn an additional amount of $75m in cash and equity upon the achievement of a threat intelligence bookings target on or before the end of the second quarter of 2018.
With the acquisition, FireEye aims to create one of the most advanced and comprehensive private cyber threat intelligence operations. Existing iSIGHT customers will continue to have access to the company’s products while FireEye’s customers will see immediate value in their existing subscriptions.
Led by John Watters, founder and chief executive officer prior to the acquisition, iSIGHT provises an intelligence network that monitors and mines global cyber threat development and thousands of threat actors via nearly 350 staff including more than 250 cyber threat intelligence experts across 17 countries, covering 29 languages.
Led by David DeWalt, chief executive officer, FireEye has invented a virtual machine-based security platform that provides real-time threat protection to enterprises and governments worldwide against the next generation of cyber attacks, which easily circumvent traditional signature-based defenses, such as next-generation firewalls, IPS, anti-virus, and gateways. Its threat prevention platform provides real-time, dynamic threat protection without the use of signatures to protect an organization across the primary threat vectors and across the different stages of an attack life cycle. The core of platform is a virtual execution engine, complemented by dynamic threat intelligence, to identify and block cyber attacks in real time.
The company has over 4,000 customers across 67 countries.