McAfee is to acquire MX Logic in a deal worth over a £100 million.
The company announced plans last week to purchase the on-demand security software provider for as much as $170 million. The move sees McAfee's entrance into the Security Software-as-a-Service (SaaS) based messaging security market.
Marc Olesen, senior vice president and general manager of McAfee SaaS, claimed that adding MX Logic's solutions to McAfee will provide it with ‘the most comprehensive SaaS portfolio in the industry'.
Olesen said: “Our vision is to lead the SaaS market by offering cloud-based industry leading technologies with a robust partner ecosystem. We are committed to being the vendor of choice in Security SaaS and MX Logic is a key component in delivering on our commitment. The breadth of our portfolio will allow our customers to stay ahead of cybercrime while saving them time and money.”
John Street, chairman and chief executive officer at MX Logic, said: “We view McAfee as the leading dedicated security company and a pioneer in SaaS. We will now be even better equipped to help our customers address the complex challenges associated with blocking spam, phishing scams, viruses in the cloud, and enforcing email policies to prevent sensitive data leaks.”
Gary Steele, CEO of Proofpoint, said: “McAfee's acquisition of MX Logic is a continued validation of the benefits of a SaaS-based email security business model.
“Proofpoint has been offering these services to enterprises for some time now, so it's great to see larger security companies are starting to understand the value and demand of a cloud-based email security offering – even if they're choosing to focus on SMBs for now. It is clear to us that the future of this market remains in the cloud as it offers unmatched economic advantages for customers of all sizes.”