McAfee to buy firewall Stonesoft Oyj for $389 mn

Stonesoft Oyj is a Finland-based provider of network firewall products.

Security software maker McAfee said here today that it will acquire Finland-based Stonesoft Oyj for about USD 389 million in cash.

McAfee has executed a definitive agreement to initiate a conditional tender offer for acquisition of Stonesoft Oyj,a provider of network firewall products,for an aggregate equity value of approximately USD 389 million in cash,McAfee said in a statement.

Founded in 1990,Stonesoft provides software-based cyber security solutions to more than 6,500 customers globally. The company,which had 251 employees in 2012,saw net sales growing 31 per cent to 40.1 million euros in the same year over 2011.

Through the pending acquisition of Stonesoft,McAfee expects to extend its leadership position in network security,it added.

“With the pending addition of Stonesoft’s products and services,McAfee is making a significant investment in next-generation firewall technology. These solutions anticipate emerging customer needs in a continually evolving threat landscape,” McAfee President Michael DeCesare said.

Intel,the world’s largest computer chip maker had purchased McAfee in 2011 for about USD 7.7 billion to beef up security component on its processors.