FireEye CEO Kevin Mandia Photograph by Stuart Isett/Fortune Brainstorm Tech

Cybersecurity company FireEye has announced it has acquired McLean, Virginia based cybersecurity startup Verodin for $250 million in cash and stock, based on the closing price of FireEye shares on the 24th of May 2019. FireEye says it expects this purchase to boost its billings this year by roughly $20 million and more than $70 million in 2020.

Verodin had raised just $33 million in total funding according to Crunchbase data. Investors in the company include Cisco, Bessemer Venture Partners, Capital One and Blackstone Ventures. Verodin provides a platform that identifies gaps in cybersecurity strength due to changes in an IT environment, evolving attacker tactics, and equipment mis-configuration. The startup’s products will continue to be sold separately via re-sellers and also FireEye channel partners.

FireEye Executive VP of Research and Engineering, Jason Marin image: FireEye

FireEye has also released its yearly guidance, indicating expectations of revenue between $890 million and $900 million for the year and between $213 million to $270 million for Q2 2019.

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