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.

About the author

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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