The Nasdaq-listed cybersecurity company, FireEye has just acquired Veorodin for $250 million.
FireEye is making this deal in the backdrop of less impressive first-quarter earnings.
The cybersecurity provider said it expects its revenue to increase as a result of the ‘combined technologies, intelligence and expertise increase customers’ resilience to cyber attacks and improve return on security investment’
The company said it expects its “cash flow from operations and non-GAAP operating income in 2020, and add approximately $20 million to billings in 2019 and more than $70 million to billings in 2020.”
“Cybersecurity today is based on assumptions – that technologies work as vendors claim, products are deployed and configured correctly, processes are fully effective, and changes to the environment are properly understood, communicated and implemented. However, the reality is much different for almost every organization and often they discover this only after being on the wrong side of a breach,” said Chris Key, Verodin co-founder and chief executive officer prior to the acquisition. “By joining FireEye, Verodin extends its ability to help customers take a proactive approach to understanding and mitigating the unique risks, inefficiencies and vulnerabilities in their environments.”
The Verodin platform complements existing cybersecurity products and technology-enabled services. Verodin will integrate with FireEye® Helix™ security orchestration capabilities to help customers prioritize and automate continuous improvement of security controls. Customers will also be able to implement Verodin cybersecurity measurement and validation solutions “as-a-service” through the FireEye Managed Defense service and as an Expertise On Demand automated service.
However, FireEye said it will not collapse the company into one unit “Verodin solutions will continue to be available on a standalone basis through Verodin resellers, as well as through the global community of FireEye channel partners,” the company said.