EbeneInfo – CA – FireEye stock earns more than 10% on Blackstone investment and Respond Software acquisition

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    FireEye Inc Shares rallied on Thursday after the cybersecurity firm said it received a large capital investment from a group led by Blackstone, which it is using to help fund the acquisition of Respond Software

    FireEye
    FEYE,

    said a group led by Blackstone
    BX,
    143%
    and venture capital firm ClearSky made a strategic investment in the company with the purchase of $ 400 million convertible preferred stock convertible into FireEye common stock at $ 18 per share

    Also Thursday, FireEye announced the acquisition of Respond Software for $ 186 million in cash and stock The Mountain View, Calif. Cyber-security-based cybersecurity investigation automation company brings Respond Analyst XDR engine to FireEye Engine, which responds, on its website, claims « uses AI and machine learning to assemble data from security checks, eliminating unimportant events and revealing which ones do. » >

    Deal closed on Wednesday, FireEye said The acquisition is FireEye’s second in a year after buying Cloudvisory in January for an undisclosed amount

    FireEye said it was using the proceeds from Blackstone’s investment to help fund the acquisition of Respond Software, as well as « to support strategic growth initiatives … as well as increased investments to accelerate the growth of the enterprise cloud, platform and managed services portfolio »

    In an interview, Kevin Mandia, Managing Director of FireEye, told MarketWatch that his relationship with Blackstone goes back decades. ClearSky was founded by Jay Leek, who was previously the Chief Information Security Officer at Blackstone

    “When you look at what we’re trying to do, our story, our vision really resonated with Blackstone and Jay Leek,” Mandia said

    In the evolution of FireEye from being an appliance provider to a cloud service, « we have filled a gap very well with the acquisition of Respond, » said Mandia

    In October, FireEye released record quarterly results on what Mandia called « an escalation of cyber attacks »

    As of Thursday’s close, FireEye stock is down 14% for the year, while the ETFMG Prime Cybersecurity ETF
    TO HACK,
    131%
    is up 17%, the S&P 500 index
    SPX,
    039%
    is up 11% and the Nasdaq Composite Index, very technological
    COMP,
    087%
    is up 33%

    Affirm Holdings Inc filed an initial public offering on Wednesday, giving a member of the « PayPal mafia » another chance to earn Wall Street wealth

    Wallace Witkowski came to The Associated Press’s MarketWatch in New York City where he was a business reporter specializing in pharmaceutical companies.He previously wrote reports for trade publications spanning the drug and medical device industries until ‘in 1998 Based in San Francisco, he focused on US equities Follow Wally on Twitter at: @wmwitkowski

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    FireEye, The Blackstone Group, NASDAQ: FEYE, Mandiant, Respond Software, Computer Security, Stock

    EbeneInfo – CA – FireEye stock increases by more than 10% on Blackstone investment , Respond Software acquisition

    Source: https://www.marketwatch.com/story/fireeye-stock-rallies-more-than-10-on-blackstone-investment-respond-software-acquisition-11605820255

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