Security vendor McAfee has bought Secure Computing in deal worth $465 million.
The move will provide McAfee with additional network security resources, and will bolster its risk management offering.
The merger looks likely to close in the latter half of the fourth quarter 2008, and will see Secure Computing’s assets incorporated under McAfee’s Network Security product business unit, headed up by Dan Ryan.
"The 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."
"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."