McAfee to Pay $465 Million for Secure ComputingBy Reuters | Posted 2008-09-22 Email Print
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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.
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)
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