FireEye Deals for VA Security Provider

Tuesday, June 4, 2019 @ 06:06 PM gHale

FireEye Inc. paid $250 million in cash and stock to purchase Tysons, VA-based cybersecurity firm Verodin.

The deal brings in additional capabilities to the FireEye portfolio with the addition of Verodin’s platform, which identifies gaps in cybersecurity effectiveness due to equipment misconfiguration, changes in the IT environment and evolving attacker tactics.

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“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,” said Kevin Mandia, FireEye chief executive.

Milpitas, California-based FireEye expects the acquisition to contribute more than $70 million to 2020 billings.

Verodin’s products will continue to be available on a standalone basis and through FireEye’s partners.

Verodin, which reported 400 percent growth in 2017, ended up sold less than a year after closing a $20.7 million funding round from 14 investors. It raised $10 million in 2016 and $2 million in 2015.



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