FireEye, the intelligence-led security company has reportedly confirmed the acquisition of Verodin, a leading validator of the effectiveness of cyber security controls. The deal is valued at around $250 million in stock and cash.
Combining forces of the two firms would supposedly accelerate revenues, cash flow from operations, and non-GAAP operating revenue in 2020. The deal is expected to add around 20 million to billings in 2019 and over $70 million to billings in 2020.
Seemingly, the Verodin Security Instrumentation Platform adds substantial novel capabilities to the portfolio of FireEye by recognizing gaps in security effectiveness because of changes in the IT environment, evolving attacker tactics, equipment misconfiguration, and more.
Fortified with FireEye frontline intelligence, the Verodin platform will evaluate and test security environment against both identified and newly discovered threats. This will allow companies to recognize risks in their security controls before a breach happens, and swiftly adapt their defences to the changing threat landscape.
According to chief executive officer of FireEye, Kevin Mandia, Verodin provides the ability to automate security efficiency testing using the sophisticated attacks which the company spent hundreds of thousands of hours responding to. It will offer a quantifiable, systematic, and continual approach towards security program validation.
Mandia added that finally, companies will have a consistent and authentic way to quantify cyber risks in an understandable manner to frontline technicians and board members.
Sources close to the matter informed that the Verodin platform balances existing technology-enabled services and cyber security products. Verodin will incorporate with FireEye® Helix™ security orchestration abilities for helping customers automate and prioritize continuous enhancement in security controls.
Co-founder and chief executive officer of Verodin, Chris key stated that by joining FireEye, Verodin expands its ability to aid customers take a proactive approach towards comprehending and alleviating the unique risks, vulnerabilities, and inefficiencies in their environments.