FireEye buys security startup Respond Software for $186 mn

FireEye announced that it will acquire security startup Respond Software for $186 million in cash and stock.
FireEye cybersecurity solution
The Milpitas, California-based FireEye said the acquisition of Respond Software opens new market opportunities to deliver eXtended Detection and Response (XDR) capabilities to a broad set of customers.

The Respond Analyst is an XDR engine that accelerates cyber investigation and response by automating the correlation of multi-sourced attack evidence using cloud-based data science models that ingest data from a comprehensive set of security technologies.

“With Mandiant’s position on the front lines, we know what to look for in an attack, and Respond’s cloud-based machine learning productizes our expertise to deliver faster outcomes and protect more customers,” said Kevin Mandia, FireEye chief executive officer.

Respond Software in May, 2019 announced a $20 million Series B funding round led by ClearSky Security. This latest round include participation from previous investors CRV and Foundation Capital.

Incident response market is projected to expand to $33.75 billion by 2023.

The Respond Analyst is currently deployed in numerous Fortune 500 Companies with large Security Operation Centers (SOCs) as well as resource-constrained mid-enterprise companies nationwide.

Meanwhile, FireEye has received a $400 million strategic investment led by private equity firm Blackstone Group to strengthen its cyber security business. Blackstone will be joined by ClearSky, a cyber security-focused investment firm, as a co-investor in the transaction.