McAfee Set To Acquire Firewall Provider Stonesoft
Intel’s antivirus software company, McAfee, is acquiring Stonesoft. The company announced that it has executed a definitive agreement to initiate a conditional tender offer to do so.
Stonewall, if you’re unfamiliar, creates firewall products.
The deal is worth $389 million.
McAfee President Michael DeCesare said, “With the pending addition of Stonesoft’s products and services, McAfee is making a significant investment in next-generation firewall technology. These solutions anticipate emerging customer needs in a continually evolving threat landscape. 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. 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.”
Stonesoft CEO Ilkka Hiidenheimo added, “The combination of the two companies allows Stonesoft to benefit from McAfee’s global presence and sales organization of over 2,200 employees, best-in-class threat research and technology synergies. Combined, we believe we can offer our customers a world-class product portfolio with world-class support – all backed by Intel.”
The rationale for the acquisition, McAfee says, is based on network security being a vital component of a comprehensive security solution, and next-generation firewalls are one of the fastest growing segments of this. Stonesoft is considered a leader in the space, and McAfee expects to grow its network security business with a more complete offering.