McAfee has announced a definitive agreement to initiate a conditional tender offer for the acquisition of the Finnish company Stonesoft Oyj for an aggregate equity value of approximately USD 389 million in cash. Stonesoft is a leading innovator in next-generation network firewall products.
Based in Helsinki, Finland, Stonesoft is trusted by more than 6,500 customers across the globe. Gartner positioned the company as “visionary” in the 2013 Network Security Firewall Magic Quadrant. “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,” said Michael DeCesare, McAfee President.
Fastest growing market segment
According to McAfee, next-generation firewalls solve critical customer needs and represent one of the fastest growing market segments in network security. Stonesoft’s product portfolio of firewalls, evasion prevention systems, and SSL VPN solutions addresses businesses of all sizes. Through the pending acquisition of Stonesoft, McAfee expects to extend its leadership position in network security.
“We plan to integrate Stonesoft’s offerings with other McAfee products to realize the power of McAfee’s Security Connected strategy. Stonesoft products will benefit from the collective expertise of more than 7,200 McAfee employees,” says DeCesare. “Leveraging McAfee’s cloud-based Global Threat Intelligence service will provide our combined customers with unparalleled security.”
McAfee is a wholly owned subsidiary of Intel Corporation.