McAfee acquires Secure Computing for $465m

Wed. September 24, 2008; Posted: 05:08 AM

Sep 24, 2008 (Datamonitor via COMTEX) -- SCUR | Quote | Chart | News | PowerRating -- California-based security software company McAfee has agreed to acquire Secure Computing for approximately $465m to expand its network security product portfolio and customer base.

Secure Computing provides network security products including Webwasher that filters corporate web traffic, Ironmail encrypted mail servers, Sidewinder firewall appliances, and SnapGear virtual private network (VPN) devices to businesses of all sizes.

Upon completion of the acquisition by the end of the fourth quarter, Secure Computing's technologies will be integrated into McAfee's Network Security product business unit and will be headed by Secure Computing's current president and chief executive Dan Ryan.

McAfee said the acquisition will strengthen its position in security risk management (SRM) and will enable it to provide a complete network security portfolio including intrusion prevention, firewall, web security, e-mail security and data protection, and network access control.

The acquisition follows the company's August acquisition of risk management tools provider Reconnex for $46m. Last year, it acquired Israel-based data protection company Onigma for $20m and encryption and access control vendor SafeBoot for $350m.

Dave DeWalt, chief executive and president of McAfee, said: "We expect the pending combination of McAfee and Secure Computing will create annual projected combined revenue of just under $500m 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."

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