FireEye Spikes After iSight Acquisition And Guidance Update
FireEye Inc (NASDAQ: FEYE) shares were up 7.5 percent after-hours on Wednesday amid news of a new acquisition and a guidance update. According to a press release filed by the company, FireEye has purchased iSight Partners for close to $200 million, a network that monitors and mines global cyber threats.
"This acquisition extends FireEye's intelligence lead with an offering no one else in the industry can match," said David DeWalt, FireEye chief executive officer and chairman of the board.
"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 organizations," iSight founder John Watters added.
Also of note, the company said fourth quarter sales, billings and adjusted loss are expected to be within previously issued guidance. The company said it sees Q4 sales of $184 million to $185 million and total fourth quarter billings of $256 million to $257 million.
FireEye last traded at $16 per share, near the lower end of its 52-week range of $13.28 to $55.33.
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