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.