US-based cybersecurity firm FireEye has bought the endpoint security products and services provider Mandiant in a $1.05bn cash-and-stock deal.
Following the transaction, FireEye plans to create a new firm by integrating technologies of both companies that would be capable of offering advanced threat protection from various cyber attacks.
The acquisition now creates a new force in the cybersecurity space as combined, the companies will have unmatched detection and contextual information about attempted attacks, including the level of risk, the identity of the attackers and the attempted target of the threats.
The most recently reported SnapChat and Skyps hacks again emphasises the ever-increasing intensity of cyber attacks and their impact on both businesses and consumers.
FireEye board chairman and chief executive officer David DeWalt said the organisations face knitting together a patchwork of point products and services to protect their assets from advanced threats.
"Together, the size and global reach of FireEye and Mandiant will enable us to innovate faster, create a more comprehensive solution, and deliver it to organizations around the world at a pace that is unmatched by other security vendors," DeWalt added.
Mandiant founder and chief executive officer Kevin Mandia is appointed as senior vice president and chief operating officer of FireEye, after the acquisition.
Kevin Mandia said the combination of FireEye and Mandiant will deliver end-to-end protection and meaningful value to customers.
"By joining FireEye and Mandiant, we will be able to deliver fully integrated products and services that help organizations protect themselves from attacks," Mandia added.
"The combined product portfolio will cover all the major attack points within an organization, and our expanded services capacity will allow us to quickly pivot to incident response when necessary to reduce the impact of security breaches."
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