McAfee acquires Secure Computing for $465 million
McAfee has agreed to acquire Secure Computing for $465 million in cash in a bid to stay ahead of Symantec in the enterprise network security business.
Santa Clara, Calif.-based McAfee will pay $5.75 a share, or $413 million, for Secure Computing, a publicly traded company (SCUR). Secure Computing’s preferred stock would also be redeemed for $84 million in additional cash. Net of cash held by secure, the deal is worth $465 million.
Secure already has more than 22,000 customers in 106 countries. Secure is a provider of network security, helping to fill out McAfee’s product line for corporate defense against malware. McAfee’s suite of security protections will now cover the gamut of security for businesses, from firewalls to email security. The deal is subject to regulatory and shareholder approval. It is expected to close in the fourth quarter.
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About the Author, Dean Takahashi
Dean is lead writer for GamesBeat at VentureBeat. He covers video games, security, chips and a variety of other subjects. Dean previously worked at the San Jose Mercury News, the Wall Street Journal, the Red Herring, the Los Angeles Times, the Orange County Register and the Dallas Times Herald. He is the author of two books, Opening the Xbox and the Xbox 360 Uncloaked. Follow him on Twitter at @deantak, and follow VentureBeat on Twitter at @venturebeat.