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FireEye for Sale?

FireEye has hired Goldman Sachs to explore a potential company sale, Business Insider reports. The cybersecurity company’s stock is up about 2 percent in pre-market trading on October 3, and FireEye’s market capitalization is $2.97 billion, according to Yahoo Finance.

FireEye CEO Kevin Mandia

The “FireEye for Sale” rumors emerge one week before the company’s Cyber Defense Summit (October 7-10, Washington, D.C.)

FireEye’s second quarter financial results, released in August 2019, disappointed some Wall Street analysts. At the time, CEO Kevin Mandia pointed to growing managed defense services momentum. But investor sentiment suggested the company’s business performance needed more fine tuning.

FireEye has a mixed reputation in the IT channel, occasionally working closely with partners — but also competing with some partners in the IT consulting and managed services areas.

ChannelE2E has not independently confirmed the Business Insider report, or the speculation that FireEye may be up for sale.

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