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May 6, 2013 11:23 am GMT

Intel's McAfee Buys Cloud-Based, Networked Firewall Specialist Stonesoft For $389M In Cash

Image (1) mcafee.jpg for post 258400McAfee, the Intel-owned security specialist, has just announced that it is buying Stonesoft Oyj,a Finland-based specialist in firewall protection products, for $389 million in cash. The move will let McAfee expand its product line specifically in cloud-based networked security products, to complement the antivirus services for which McAfee is best known. It comes at a time when PCs are sitting side by side with other kinds of devices like tablets and smartphones on networks, and more information is moving off devices and on to networked, cloud-based systems. With the pending addition of Stonesofts 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, said Michael DeCesare, McAfee President, in a statement. Stonesoft is a leading innovator in this important market segment.” He added that McAfee will integrate Stonesofts products into McAfees cloud-based Security Connected strategy. There is a strong business argument for McAfee buying into more expertise and products in the area of networked security. On the one hand, security attacks on cloud-based systems are on the rise, and that is affecting both consumers and enterprises. On the consumer side, companies like Twitter and Evernote have reported security breaches. On the enterprise side, companies like Github, Dwolla and Zendesk (with the latter affecting Tumblr, Pinterest and more) have also been impacted by malicious hackers on the hunt for sensitive data. On the other, the bedrock of McAfee’s security portfolio is eroding away: according to figures from IDC out last month, PC devices saw their biggest single-quarter decline in Q1, with shipments down 14% to 76.3 million units. More to come. Release below. SANTA CLARA, Calif., May 6, 2013 McAfee today announced the execution of a definitive agreement to initiate a conditional tender offer for the acquisition of Stonesoft Oyj (NASDAQ OMX Helsinki: SFT1V), a leading innovator in next-generation network firewall products, for an aggregate equity value of approximately $389 million in cash. Stonesoft delivers software-based, dynamic, customer-driven, cyber security solutions to secure information flow and simplify security management. Stonesofts product portfolio of next-generation firewalls, evasion prevention systems, and SSL VPN solutions addresses businesses of all sizes. Through the pending acquisition of Stonesoft, McAfee expects to extend its leadership position in network security. With the pending addition of Stonesofts products and services, McAfee is making a significant investment in next-generation firewall technology. These solutions anticipate

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