McAfee to buy Secure Computing

Posted by   Virus Bulletin on   Sep 22, 2008

Acquisition deal valued at $465m.

McAfee has announced its official agreement to purchase network security firm Secure Computing Corp. in a deal worth a whopping $465 million.

The announcement comes a little less than two months since McAfee announced its intention to acquire data loss firm Reconnex in a deal worth $46 million.

The security vendor has revealed that it proposes to pay $5.75 per share in cash for the network security firm, or about $413 million, which represents a 27% premium on the value of Secure Computing's closing share price at the end of last week. Another $84 million will be added to the value of the deal as Secure Computing's preferred stocks are redeemed for cash.

The deal is expected to close in the fourth quarter of this year and, according to McAfee, is intended to help strenghten its position in risk management.

Posted on 22 September 2008 by Virus Bulletin

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