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Why Symantec’s Talks to Buy FireEye Ended Without a Deal

February 23, 2017

Symantec Needs Alliances, Products To Vie With IntelSymantec Needs Alliances, Products To Vie With Intel
Symantec Corp. in Mountain View, California, U.S.Tony Avelar—Bloomberg via Getty Images

Security software provider Symantec held talks to acquire FireEye about six months ago, but is not currently pursuing a deal with the cybersecurity company, people familiar with the matter said on Thursday.

The two companies could not reach a deal because of disagreements over price, the sources said, asking not to be identified because the negotiations were confidential. Symantec and FireEye declined to comment.

Shares of FireEye (FEYE) had jumped earlier on Thursday after financial blog Zero Hedge published an article based on anonymous sources stating that Symantec’s LifeLock unit (SYMC) was willing to offer $16 per share for FireEye.

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FireEye shares were up 2% in late morning trading in New York on Thursday, giving the company a market capitalization of close to $2 billion.