McAfee offers $465 million for Secure Computing

Cash-and-stock deal expected to close near the end of the fourth quarter, McAfee says, would give it a well-stocked portfolio of network security offerings for a wide range of businesses.

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Clarification, Sept. 23, 4:42 a.m. PDT: This story originally omitted mention that the $465 million total includes consideration of cash held by Secure Computing.

Security specialist McAfee on Monday announced that it has a deal in place to acquire Secure Computing.

The merger offer is pegged at $5.75 per common share in cash, which McAfee says represents a total equity value of about $413 million. The deal also includes a cash offer for outstanding shares of Secure Computing preferred stock, valued at about $84 million. Those components, less cash held by Secure Computing, bring the total value of the proposed acquisition to $465 million, McAfee said.

San Jose, Calif.-based Secure Computing would bring to McAfee a set of products and services designed to help customers protect Web, e-mail, and network assets. With the acquisition, McAfee says it would be able to offer a complete, single-source network security portfolio to a wide range of businesses, from small to global.

The deal is expected to close toward the end of the fourth quarter, McAfee said.

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Security
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Jonathan Skillings is managing editor of CNET News, based in the Boston bureau. He's been with CNET since 2000, after a decade in tech journalism at the IDG News Service, PC Week, and an AS/400 magazine. He's also been a soldier and a schoolteacher, and will always be a die-hard fan of jazz, the brassier the better.

 

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