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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