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    McAfee to Pay $465 Million for Secure Computing

    in Security



    DATE: 2008-09-22 | By Reuters
    Article Rating:starstarstarstarstar / 1
    Article Views: 3074

    McAfee Inc. says it plans to acquire Secure Computing Corp. for $465 million in cash. McAfee is the number two security software provider in the market behind Symantec. The acquisition will give McAfee a suite of software, services and hardware products to protect against hackers from getting past the perimeters of computer networks.

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    BOSTON (Reuters) - McAfee Inc (MFE.N), the world's No. 2 security software maker, said on Monday it plans to buy Internet security company Secure Computing Corp (SCUR.O) for $465 million in cash.

    The move gives McAfee a suite of software, services and hardware products to protect hackers from getting past the perimeters of computer networks.

    McAfee is already the No. 2 provider of anti-virus software. Symantec Corp (SYMC.O) is the largest.

    Santa Clara, California-based McAfee will pay $5.75 per share of Secure Computing's common stock, representing a 27 percent premium to the San Jose, California company's closing price of $4.52 on Friday.

    Secure Computing shares were quoted at $5.59 in pre-market trade.

    The companies expect the transaction to close at the end of the fourth quarter of this year.

    (Reporting by Jim Finkle; Editing by Derek Caney)

    © Thomson Reuters 2008 All rights reserved




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