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Cybersecurity Firm FireEye Plans Corporate Revamp, Will Change Name to Mandiant

| Updated
by Bhushan Akolkar · 2 min read
Cybersecurity Firm FireEye Plans Corporate Revamp, Will Change Name to Mandiant
Kevin Mandia, Chief Executive Officer and Board Director of Mandiant. Photo: Mandiant

The company will be adopting a new name as it planned to sell its FireEye Products business to Symphony Technology Group.

On Monday, October 4, cybersecurity firm FireEye announced that it plans to change its official name to Mandiant. The announcement came at the company’s annual Cyber Defense Summit (CDS) 2021. 

FireEye Becoming Mandiant

As a result, the company’s Nasdaq ticker symbol will change to MNDT starting today. In June 2021, the company decided to sell its FireEye Products business. Thus, it also decided to change the business name. As a result, the company has moved forward with changing its business name and ticker symbol.

The company noted that the decision of renaming reflects “the company’s strategy to focus on Mandiant’s security controls-agnostic solutions delivered through the Mandiant Advantage cloud-based platform.” Speaking of the development, Kevin Mandia, CEO of FireEye said:

“Given the pending sale of the FireEye Products business to Symphony Technology Group, this year’s Cyber Defense Summit is an ideal time to rename and relaunch the company as Mandiant. Mandiant is focused on helping every organization improve its security posture and better navigate today’s cyber threat landscape.”

FireEye Stock Tanks 3.4%

On Monday, the FireEye stock (NASDAQ: FEYE) tanked 3.4% ending the trading session at $17.27 levels. The Cyber Defense Summit will showcase the Mandiant Advantage SaaS platform. This tech will help to scale Mandiant’s frontline expertise along with industry-leading threat intelligence. As a result, Mandiant will be able to deliver dynamic cyber defense solutions of all sizes.

FireEye is America’s leading intelligence-led security company. It provides a seamless, scalable extension of customer security operations. FireEye is a one-stop solution for innovative security technologies and nation-state-grade threat intelligence. FireEye has been working with the US federal agencies, the FBI, and the National Security Agency.

FireEye has over 10,100 customers across 103 countries. However, FireEye was hacked last year in December 2020. Calling it a state-sponsored attack, FireEye CEO Kevin Mandia called it “an attack by a nation with top-tier offensive capabilities”. Back then, the company noted:

“Consistent with a nation-state cyber-espionage effort, the attacker primarily sought information related to certain government customers. The attackers…are highly trained in operational security and executed with discipline and focus. They operated clandestinely, using methods that counter security tools and forensic examination. They used a novel combination of techniques not witnessed by us or our partners in the past.”

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Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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