McAfee to Pay $465 Million for Secure Computing

By CIO Update Staff

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McAfee, the world's No. 2 security software maker, said on Monday it plans to buy Internet security company Secure Computing Corp. for $465 million in cash.


The move gives McAfee a suite of software, services and hardware products to protect hackers from getting past the perimeters of computer networks. McAfee is already the No. 2 provider of anti-virus software. Symantec Corp is the largest.


Santa Clara, California-based McAfee will pay $5.75 per share of Secure Computing's common stock, representing a 27 percent premium to the San Jose, California company's closing price of $4.52 on Friday. Secure Computing shares were quoted at $5.59 in pre-market trade.


(Reporting by Jim Finkle. Editing by Derek Caney.)