FireEye considering private equity sale - reports

Cybersecurity business reportedly hires Goldman Sachs to target potential buyers

FireEye is seeking a move to private ownership and has hired advisors to facilitate a sale, according to reports.

Business Insider claims that the vendor is working with Goldman Sachs to identify potential buyers, citing two sources.

It claims that a deal is not certain, but that private equity houses are the most likely suitors at this stage.

FireEye went public as the poster boy of cybersecurity in 2013 but has struggled in the years since.

It recently embarked on a transition from hardware to software and services, and has overhauled its partner strategy to make itself more channel friendly, it claims.

The vendor's share price has climbed by about eight per cent this week, but is still down 80 per cent on its 2014 peak.

In its most recently reported quarter, FireEye saw revenue climb seven per cent year on year to $218m. Its current valuation is around $3bn.