FireEye buys firm that tied cyberattacks to China
Source: AP-Excite
NEW YORK (AP) - FireEye Inc. said Thursday it has acquired Mandiant Corp., the firm that linked years of cyberattacks against U.S. companies to a secret Chinese military unit.
FireEye said that the purchase of privately held Mandiant would increase its ability to stop attacks in their early stages.
The company valued the deal at nearly $1 billion. FireEye said it would buy 21.5 million shares and options of its stock - worth about $884 million at Thursday's closing price - and pay $106.5 million in cash to former Mandiant investors.
FireEye makes computer-security software. It had a successful initial public offering of stock in September, with the shares nearly doubling in price on the first day of trading. The Milpitas, Calif.-based company said its customers include more than 100 of the Fortune 500 corporations.
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