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McAfee Acquires Secure Computing web hosting news |
Want to add a web hosting news article ? Just do'it, it's free! Use submit form for hosting news!| McAfee Acquires Secure Computing Sep 22, 2008 | Security technology provider McAfee (mcafee.com) announced on Monday it has entered a definitive merger agreement to acquire network security firm Secure Computing (securecomputing.com) for $5.75 per common share in cash, without interest, for a total value of $413 million.
This is the second acquistion for McAfee in less than two months, having acquired privately held data loss prevention company Reconnex for $46 million in August.
Secure Computing's outstanding shares of preferred stock will also be redeemed for cash as part of the proposed transaction, which would add another $84 million, for a total proposed acquistion value of about $465 million.
Secure Computing provides network security with a product portfolio that spans businesses of all sizes. This pending acquisition of Secure Computing will help McAfee strengthen its leadership position in security risk management.
The network security firm delivers a full set of solutions that help customers protect their critical Web, email and network assets.
With the addition of Secure Computing's products and services, McAfee expects to be able to deliver the industry's most complete network security portfolio, which includes intrusion prevention, firewall, Web security, email security and data protection, and network access control.
"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," says Dave DeWalt, chief executive officer and president of McAfee. "We believe that this pending acquisition will allow us to immediately establish a leading and highly competitive position in the network security space."
With the acquisition of Secure Computing, McAfee says it expects to become one of the largest network security players by delivering the industry's most complete network security solution to businesses of all sizes.
The addition of Secure Computing TrustedSource technology will extend McAfee's "in-the-cloud" security as a service offering, as well as be able to deliver the complete content and data lifecycle management at the network, spanning detection, filtering, encryption, blocking, archiving, reporting and compliance.
Secure Computing has more than 22,000 customers in 106 countries that will depend on McAfee as a single source for complete security portfolio-spanning endpoint, network, data and risk and compliance. | Reads: 943 | Category: General | Source: TheWHIR : Web Host Industry Reviews
URL source: http://www.thewhir.com/marketwatch/092208_McAfee_Acquires_Secure_Computing.cfm
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