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.