McAfee Completes Tender Offer for Stonesoft
Intel subsidiary McAfee said on Monday that it has completed its tender offer for Helsinki, Finland-based Stonesoft Oyj, a well known company in next-generation firewall segment. Stonesoft is now a McAfee group company, and all Stonesoft products and technologies are now a part of the McAfee portfolio. The Stonesoft team itself will become a part of McAfee's Network Security Business Unit which is led by Pat Calhoun.
"This acquisition provides McAfee with a clear competitive advantage in the network security space and the industry has taken notice," said Michael DeCesare, president of McAfee. "We have received an overwhelmingly positive response from analysts and customers. 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."
According to Gartner, the enterprise network security equipment market is expected to grow at a 7 percent compound annual growth rate (CAGR) during the next five years, reaching $11.4 billion by 2017. By acquiring Stonesoft, McAfee said it will be able to extend its leadership position in network security by integrating Stonesoft's offerings into its own portfolio of solutions.
Stonesoft delivers dynamic, software-based, and customer-driven network security products that secure information flow and simplify security management. Stonesoft’s product portfolio of next-generation firewalls, evasion prevention systems, and SSL VPN solutions are based on the dynamic and adaptive platform of the next generation Stonesoft Security Engine (NGN) and Stonesoft Management Center (SMC). Stonesoft said it became well known globally for the Stonegate range of enterprise security appliances, and is trusted by more than 6,500 customers around the globe.
"McAfee’s Security Connected strategy brings together industry-leading solutions to address the increasing number of advanced threats facing businesses from the network to the cloud," said Ilkka Hiidenheimo, founder and chief executive officer of Stonesoft. "With innovative technology that can be deployed as an appliance, as software or virtually, McAfee’s customers will be positioned to meet the high-performance needs of demanding, secure, distributed networks today and in the future."
In May, McAfee said they were initiating a conditional tender offer for the acquisition of Stonesoft for an aggregate equity value of approximately $389 million in cash. At the time Gartner positioned the firewall company as "visionary" in the 2013 Network Security Firewall Magic Quadrant. Stonesoft even achieved "recommend" status in NSS Labs' latest 2013 firewall tests.
"With Stonesoft, McAfee expects to grow its network security business by delivering the industry’s most complete network security solution with three leading platforms: McAfee’s IPS Network Security Platform, McAfee’s Firewall Enterprise for the high assurance market segment, and Stonesoft’s next-generation firewall," McAfee said in May.
McAfee's new Next Generation Firewall, powered by Stonesoft, is already available. Features include a unified software design, protection against advanced anti-evasion techniques, centralized management, high availability and high scalability. For more information regarding this new solution, head here.
Kevin Parrish is a contributing editor and writer for Tom's Hardware,Tom's Games and Tom's Guide. He's also a graphic artist, CAD operator and network administrator.
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