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McAfee, Inc. Agrees to Acquire Secure Computing
Pending Acquisition Expected to Create One of the Largest Network Security Vendors, Offering the Most Complete Network Security Solution to Businesses of All Sizes
Secure Computing is a leading provider of network security with a product portfolio that spans businesses of all sizes. Through the pending acquisition of Secure Computing, McAfee(R) expects to take another step toward its goal of strengthening its leadership position in security risk management (SRM).
Secure Computing delivers a comprehensive set of solutions that help customers protect their critical Web, email and network assets. With the pending addition of Secure Computing's products and services, McAfee expects to be able to deliver the industry's most complete network security portfolio (covering intrusion prevention, firewall, Web security, email security and data protection, network access control), from small and mid to the world's largest organizations.
"Today's announcement of this pending acquisition is a natural extension of McAfee's security-only focus," said Dave DeWalt, chief executive officer and president of McAfee. "We expect the pending combination of McAfee and Secure Computing will create an annual projected combined revenue of just under $500 million 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."
The rationale for the proposed acquisition is as follows:
-- With Secure Computing, McAfee expects to become one of the largest network security players, delivering the industry's most complete network security solution to businesses of all sizes, extending the success of its total protection strategy through best of breed technology suites
-- Secure Computing TrustedSource technology will extend McAfee's "in-the-cloud" security as a service offering
-- With Secure Computing, McAfee expects to be able to deliver the complete content and data lifecycle management at the network, spanning detection, filtering, encryption, blocking, archiving, reporting and compliance
-- Secure Computing has more than 22,000 customers in 106 countries that will be able to rely upon McAfee as a single source for complete security portfolio-spanning endpoint, network, data and risk and compliance
"I believe the combination of the two companies will allow us to reap the benefits of a worldwide dedicated sales team three times our size, best-in-class security research, greater partner distribution and enhanced cross-selling opportunities," said Dan Ryan, president and chief executive officer, Secure Computing. "Combined, we believe we will become a leader in the network security space."
The proposed acquisition is subject to regulatory approvals and Secure Computing stockholder approval, and is expected to close in the latter part of the fourth quarter of 2008. McAfee anticipates that following the closing, Secure Computing's technologies will be incorporated under McAfee's Network Security product business unit, headed by Dan Ryan.
For additional information, please reference http://www.mcafee.com.
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