Leading web security provider Websense has taken a big chunk out of its competition, announcing today plans to acquire SurfControl for about £200 milion ($400 million).
Websense, a US public company traded on the Nasdaq stock exchange, snatched its closest competitor to help it "compete more effectively with large global security software companies," CEO Gene Hodges said in a statement today.
The purchase will help Websense — makers of web filtering, leak prevention and internet security solutions — jumpstart its latest business objective: to better penetrate the small- and medium-sized business marketplace, the company said.
According to a letter sent by Hodges to customers, the deal also will allow Websense to deliver new software-as-a-service (SaaS) email security through BlackSpider Technologies, a UK-based on-demand provider that was acquired last year by SurfControl.
"This is an offer that is fully supported by SurfControl’s management team," Hodges said on a conference call today.
Websense today also named Doug Wride president. He will continue his role as chief financial officer but will now also be responsible for overseeing the acquisition.
The acquistion will boost Websense's ranking in the SC Top 30; currently at 19th spot