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McAfee To Buy Secure Computing For $465 Million
Mike Sachoff
Staff Writer
2008-09-22
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McAfee said today that it will purchase online security company Secure Computing Corp for $465 million in cash.
 | | McAfee To Buy Secure Computing For $465 Million |  |
McAfee is the world's second largest provider of security software behind Symantec and with the acquisition of Secure Computing, McAfee will extend its in- the -cloud security as a service offering.
Secure Computing has more than 22,000 customers in 106 countries which will allows McAfee to offer a more complete network security portfolio covering intrusion prevention, firewall, Web security, email security, data protection and network access control.
"Today's announcement of this pending acquisition is a natural extension of McAfee's security-only focus," said Dave DeWalt, chief executive officer and president of McAfee.
"We expect the pending combination of McAfee and Secure Computing will create an annual projected combined revenue of just under $500 million in the network security segment of our SRM portfolio. We believe that this pending acquisition will allow us to immediately establish a leading and highly competitive position in the network security space."
The acquisition is subject to regulatory approvals and Secure Computing stockholder approval, and will likely be completed in the latter part of the fourth quarter. MacAfee says that when the deal is completed, Secure Computing's technologies will be incorporated under McAfee's Network Security product business unit, headed by Dan Ryan.
"I believe the combination of the two companies will allow us to reap the benefits of a worldwide dedicated sales team three times our size, best-in-class security research, greater partner distribution and enhanced cross-selling opportunities," said Dan Ryan, president and chief executive officer, Secure Computing.
About the Author:
Mike is a staff writer for WebProNews. Visit WebProNews for the latest ebusiness news.
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