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McAfee to acquire network security solutions provider Stonesoft.

May 6 2013, 2:40am CDT | by , in News | Technology News

McAfee to acquire network security solutions provider Stonesoft.

McAfee wants to become the leading provider of network security solutions to businesses. To do that, it needs a company like Stonesoft, which is known for its best-in-class firewall technology.

Computer security company, McAfee is announcing that it has iniated an agreement to acquire network security solutions provider, Stonesoft Oyj. If the agreement is finalized, approximately $389 million in cash is reported to be at stake. The acquisition is a good move for McAfee.

Stonesoft, which delivers software-based cyber security solutions to more than 6,500 customers around the word, specializes in next-generation firewalls as well as evasion prevention systems. By buying Stonesoft, McAfee could easily become the leader in network security.

"Stonesoft is a leading innovator in this important market segment. We plan to integrate Stonesoft’s offerings with other McAfee products to realize the power of McAfee’s Security Connected strategy," says McAfee President,  Michael DeCesare. "Stonesoft products will benefit from the collective expertise of more than 7,200 McAfee employees. Leveraging McAfee’s cloud-based Global Threat Intelligence service will provide our combined customers with unparalleled security.”

Source: Businesswire

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