by Anton Shilov
05/06/2013 | 11:56 PM
McAfee, a subsidiary of Intel Corp., on Monday announced the execution of a definitive agreement to initiate a conditional tender offer for the acquisition of Stonesoft, 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 cyber security solutions to secure information flow and simplify security management. Stonesoft’s 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 and Intel expect to extend its leadership position in network security.
“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 7200 McAfee employees. Leveraging McAfee’s cloud-based Global Threat Intelligence service will provide our combined customers with unparalleled security,” said Michael DeCesare, president of McAfee.
The rationale for the proposed acquisition is as follows:
Based in Helsinki, Finland, Stonesoft is trusted by more than 6500 customers across the globe. Stonesoft’s customer base can now benefit from an integrated, comprehensive security solution through McAfee. Stonesoft’s innovative next-generation firewall, when combined with McAfee’s market leading IPS and high assurance firewall, provides customers with one of the most complete network security portfolios in the industry.
“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,” said Ilkka Hiidenheimo, Chief Executive Officer of Stonesoft.