McAfee makes Secure Computing buyout bid
Published: 22 Sep 2008 15:16 BST
Security vendor McAfee announced on Monday that it has a deal in place to acquire Secure Computing.
The merger offer stands at $5.75 (£3.12) per common share in cash, which McAfee said represents a total equity value of about $413m.
The deal also includes a cash offer for outstanding shares of Secure Computing preferred stock, and that $84m component brings the total value of the proposed acquisition to $465m.
Secure Computing, based in San Jose, California, would bring to McAfee a set of products and services designed to help customers protect web, email and network assets.
Through the acquisition, McAfee said it would be able to offer a complete, single-source, network-security portfolio to a wide range of businesses, from small to global.
The deal is expected to close toward the end of the fourth quarter, McAfee said.
Credit: McAfee offers $465 million for Secure Computing from CNET News
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