McAfee Nabs Secure Computing for Network Cred
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McAfee, the world's No. 2 security software maker, said on Monday it plans to buy Internet security company Secure Computing for $465 million in cash.
The move gives McAfee a suite of software, services and hardware products to protect hackers from getting past the perimeters of computer networks.
McAfee (NYSE: MFE) is already the No. 2 provider of anti-virus software. Symantec (NASDAQ: SYMC) is the largest.
Santa Clara, Calf.-based McAfee will pay $5.75 per share of Secure Computing's (NASDAQ: SCUR) common stock, representing a 27 percent premium to the San Jose, Calf. company's closing price of $4.52 on Friday.
Secure Computing shares were quoted at $5.59 in pre-market trade.
The companies expect the transaction to close at the end of the fourth quarter of this year.