Security firm FireEye has announced the acquisition of iSight Partners in a $200m deal designed to bolster the firm's enterprise-focused cyber threat intelligence offerings.
The acquisition will bring together two well regarded players in the security industry. FireEye's Mandiant unit is frequently employed to investigate major cyber attacks, while iSight Partners recently hit the headlines for its analysis of malware attacks against power grids in Ukraine.
Under the terms of the merger agreement, FireEye will pay $200m in cash to the former iSight shareholders for full control of the firm's outstanding shares.
Furthermore, former iSight shareholders will have the opportunity to earn an additional $75m in cash and equity after the certification of a "threat intelligence bookings target" by mid-2018.
David DeWalt, FireEye chairman and chief executive, called the merger "an offering no-one else in the industry can match".
"The biggest mistake most people make is thinking that threat intelligence is a collection of virus definitions in a shared database. Forward-looking security organisations, from governments to the private sector, know that threat intelligence is the key to establishing a robust security posture tuned for the threats targeting each organisation," he said.
"As the cyber operations become integrated with physical, geopolitical and competitive conflict, an intelligence-led approach to security will be key in detecting the most sophisticated threats and responding to them quickly and effectively."
John Watters, iSight founder and chief executive, called the move a "game-changer" for the security industry and stressed that existing iSight customers will continue to have access to their current products.
"Until now, only governments and large enterprises have been able to achieve intelligence-led security, but with the combined resources of FireEye, Mandiant and iSight we can make the benefits of intelligence-led security available to a broad range of organisations," he said.
The iSight intelligence network has around 350 dedicated staff members and over 250 cyber threat intelligence experts across 17 countries.
FireEye said it will add "intelligence subscription models" that include industry-specific products, allowing new customers to purchase threat intelligence products tailored to the needs of the business.
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