The deal, which includes FireEye paying another $75 million in cash and stock to iSight shareholders if the business meets certain sales targets by mid-2018, actually closed January 14.
The acquisition comes at a time when many public and private cyber security companies are experiencing declining valuations following a series of highly publicized cyber-attacks on companies like Target, Ashley Madison, and Sony.
“This acquisition extends FireEye’s intelligence lead with an offering no one else in the industry can match,” said David DeWalt, FireEye chief executive officer and chairman of the board. “The biggest mistake most people make is thinking threat intelligence is a collection of virus definitions in a shared database.”
He said governments and businesses are aware that threat intelligence critical in building a robust security posture.
Both iiSight and FireEye have significant government customers although FireEye is stronger in the corporate space.
“As the cyber operations become integrated with physical, geopolitical and competitive conflict, an intelligence-led approach to security will be key in detecting the most sophisticated threats and responding to them quickly and effective,” according to DeWalt.
FireEye provides “higher fidelity” alerts and threat prioritization to customers. The company’s Mandiant forensic unit is considered a leader in helping organizations investigate and gain strategic insights from cyber-attacks.
iSight has an intelligence network that monitors and mines global cyber threat developments from some 16,000 threat actors. The company’s staff of 350 includes more than 250 cyber threat intelligence experts in 17 countries. iSight invested nearly $10 million over eight years to build its cyber intelligence capability which enabled it to uncover major cyber campaigns from Russia, Iran, and other countries.
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