On Friday, McAfee Enterprise and FireEye completed completed their $1.2 billion, all-cash merger, bringing together the two industry titans in cybersecurity.
FireEye announced separated its network, email, endpoint, and cloud security products from Mandiant’s software and services in July by selling its FireEye Products business to a group led by Symphony Technology Group (STG).
McAfee sold its enterprise security business acquired STG for $4 billion in March, opening the door for their merger.
The two businesses now boast a combined customer base of 40,000, a workforce of around 5,000 people, and annual sales of almost $2 billion.
According to STG managing partner William Chisholm, “Aligning McAfee Enterprise’s device-to-cloud cybersecurity solutions with FireEye’s extensive range of products creates an incredible opportunity for helping keep consumers everywhere safe and secure.”
The McAfee Enterprise and FireEye teams will be able to create an integrated security platform supported by automation and artificial intelligence, according to Bryan Palma, CEO of the newly united business.
In an interview, Palma told ZDNet that businesses will need to rely more on automation, artificial intelligence, and machine learning due to the sophistication of threats and the shortage of cybersecurity personnel.
“We can clearly see that many are unable to keep up with the pace. Nation-states are increasingly taking part in attacks, which is really worrying because they obviously have very powerful capabilities. But what we’re seeing is that some of the methods that nation-states have historically utilized are now being employed by criminal organizations and hackers,” Palma added.
We also observe these supply chain attacks, in which FireEye was undoubtedly directly involved given all that transpired in relation to SolarWinds . Since there are still so many zero-day vulnerabilities, many hackers still use them as access points. There is malware and phishing is still a thing. The standard has been raised by a combination of actually new, advanced threats and the conventional methods used by hackers to attack enterprises.
Since there isn’t much overlap between the two businesses, each may provide something unique, according to Palma. According to him, the combination will enable both businesses to offer more comprehensive endpoint services, cloud security, and security operations.
In order to combat the sophistication of competitors, Palma stated that the new company is concentrating on setting the standard with XDR and statistical models.
“Since cybersecurity has gained popularity, there are many what I’ll refer to as “software companies” in existence. The employees of our organization care about being a genuine, grounded security company. said Palma.
We have a fairly strong team of experts on hand that are very knowledgeable and proficient in this field.
When asked what the new company’s name will be, Palma responded that it would not be decided until after the fiscal year had ended under the Mcafee Enterprise and FireEye names.
He claimed that at the end of 2021, the company will no longer be able to use the McAfee Enterprise moniker, thus they will need to come up with a new name for 2022.