Biz (2586)

McAfee in $465 million buy-out deal

Security company on spending spree

23 September 2008 13:14 GMT / By Katie Scott

Last month, McAfee announced it was going to spend £23m on buying data-leakage prevention firm Reconnex.

Now the security company has reached into its pockets yet again and is to fork out $465 million for Secure Computing Corp.

This is McAfee's biggest acquisition to date and means it will have access to all of Secure Computing's clients (estimated at 22,000), as well as new equipment that stops hackers breaking into computer networks.

Secure Computing shares rose 23% upon the news while McAfee's fell slightly but the deal is expected to bring in more cash for the next financial year.

"The market is moving toward bigger vendors with broader suites. That just means more dollars for McAfee", said McAfee boss, Dave DeWalt. "That is why we are expanding the portfolio."

Full tags

Biz, Software, McAfee, Reconnex