RealTime IT News

McAfee Nabs Secure Computing for Network Cred

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.

We have made updates to our Privacy Policy to reflect the implementation of the General Data Protection Regulation.