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Cybersecurity

Blackstone Invests $400 Million in FireEye

November 22, 2020 | By Bloomberg News

The investment comes as cyberattacks related to the coronavirus, including ransomware attacks on medical facilities and phishing email campaigns surge.

FireEye Inc. raised $400 million in an investment led by an arm of Blackstone Group Inc., sending shares in the cybersecurity company surging about 10% in extended trading.

The Milpitas, California-based company said it will use the investment to support “strategic growth initiatives,” one of which was also outlined Thursday. FireEye said it acquired Respond Software, a cybersecurity investigation automation company, according to a company statement. The transaction closed Wednesday and is valued at about $186 million in cash and stock.

The investment from Blackstone Tactical Opportunities comes after months of surging cyber-attacks related to the coronavirus, including ransomware attacks on medical facilities and phishing email campaigns.

Blackstone was joined by ClearSky, a cybersecurity-focused investment firm, as co-investor in the transaction. The investment “validates our vision and provides financial, operational and leadership resources to accelerate our strategy,” Kevin Mandia, FireEye’s chief executive officer, said in the statement.

Viral Patel, a senior managing director at Blackstone who’s joining FireEye’s board, said that his company and FireEye have a “shared vision of the unique role FireEye can play in addressing the increasingly sophisticated cybersecurity challenges their customers face.”

Financial services

Family of Late Sen. Bill Armstrong Transfers Assets

December 4, 2020 | [email protected]

The family of the late U.S. Sen. Bill Armstrong (R-Colorado) has reached a deal to transfer its interest in Cherry Creek Mortgage. Under the restructuring, the company is 100 percent owned by the family of its co-founder, Jeffrey May.

May will serve as chairman and CEO of Cherry Creek Holdings and will continue to serve as president of Cherry Creek Mortgage.

The company also announced that Rick Seehausen has been appointed to president and COO of Cherry Creek Holdings.

Cherry Creek Mortgage offers of FHA, conventional and jumbo along with refinance mortgage loans services. The company originates loans through more than 70 retail branches, a consumer direct channel, wholesale, and joint ventures.