McAfee completes Secure Computing acquisition
McAfee has completed the acquisition of Secure Computing.
The deal is worth $5.75 per common share in cash, which translates as an equity value for Secure Computing's common stock of approximately $418 million in the aggregate.
In addition, Secure Computing's outstanding shares of preferred stock have been redeemed for an aggregate of approximately $85 million in cash. In total, including the net of cash held by Secure Computing, the transaction is valued at approximately $462 million.
As previously announced, Dan Ryan, president and chief executive officer of Secure Computing, will lead McAfee's network security product business unit and will report directly to Dave DeWalt, chief executive officer and president of McAfee.
DeWalt said: “McAfee's goal is to provide intelligent security that protects from every angle, including the endpoint, the network and all points in between. McAfee's leadership position in endpoint security and network intrusion prevention, coupled with Secure Computing's leadership position in web and email security, make McAfee uniquely positioned to address its customer's toughest security challenges. Our users will be able to consolidate their defences with some of the most robust technologies on the market today.”
McAfee plans to enhance its network and endpoint solution offerings to deliver powerful security management through McAfee ePolicy Orchestrator. In addition, McAfee plans to utilise Secure Computing's Trusted Source technology to expand intelligent ‘in the cloud' security services for an additional layer of defence.