Shares of cybersecurity company FireEye Inc were set to open 24 percent higher on Friday after the company bought computer forensics specialist Mandiant Corp for $1 billion.

The deal is a sign of further consolidation in the cybersecurity industry, FBR Capital Markets analyst Daniel Ives wrote in a note.

"This deal speaks to our thesis around massive consolidation in the security landscape for 2014, with names such as Fortinet Inc and Proofpoint Inc as prime acquisition candidates ...," Ives said.

Analysts have said larger players such as IBM, Symantec and Hewlett Packard could look to acquire smaller security players to help drive growth as spending on cybersecurity increases.

Cisco Systems Inc said in July that it would buy cybersecurity company Sourcefire Inc for $2.7 billion.

Goldman Sachs raised its price target on FireEye's stock to $45 from $40.

FireEye had raised its fourth-quarter revenue forecast on Thursday.

The company's shares have more than doubled since they debuted in September. The stock was trading at $50.50 before the bell.