A leader in security space, FireEye, has announced that it is acquiring Verodin. FireEye closed the transaction which is valued at $250 million. The transaction is to happen with the combination of cash and stock. The acquisition is expected to benefit FireEye in a big way. The company is expecting an additional $20 million in billings for 2019 and more than $70 million in 2020.
The acquired company Verodin is an organization that measures and helps companies improve their cybersecurity effectiveness. Kevin Mandia, CEO of FireEye said: “Verodin gives us the ability to automate security effectiveness testing using the sophisticated attacks we spend hundreds of thousands of hours responding to, and provides a systematic, quantifiable, and continuous approach to security program validation.”
Veridon was founded in 2014 by Ben Cianciaruso and Chris Key. Verodin is based out of McLean, Virginia and has raised as much as $33 million in funding until now. Verodin’s co-founder and CEO Chris Key said: “By joining FireEye, Verodin extends its ability to help customers take a proactive approach to understanding and mitigating the unique risks, inefficiencies, and vulnerabilities in their environments.” The solutions from Verodin will be available at a standalone capacity through resellers and through FireEye channel partners.