McAfee Completes The $389 Million Deal For Stonesoft
Intel subsidiary and security software company McAfee announced this morning that they have completed the tender offer for network security company Stonesoft. McAfee announced that they are acquiring Stonesoft for $389 million in cash on May 6, 2013. Stonesoft will now be part of the McAfee group, which has over 7,200 employees. Stonesoft’s products and technologies will become a part of the McAfee portfolio.
“This acquisition provides McAfee with a clear competitive advantage in the network security space and the industry has taken notice,” stated McAfee president Michael DeCesare. “With the addition of one of the industry’s best next-generation firewalls, we now have one of the most complete and effective network security portfolios in the industry.”
Stonesoft’s employees will become a part of the McAfee Network Security Business Unit that is led by former Cisco executive Pat Calhoun.