McAfee acquires a cyber security firm in USD 389 million

Intel owned McAfee, the Internet Anti virus Firm, has announced the acquisition of StoneSoft Corporation, a cyber security firm based out of Helsinki in a blog post yesterday. The acquisition is valued at $389 million.

Following the acquisition of by Avast last week , McAfee’s move signifies his efforts to boost his network security business.

McAfee which has 4.4% vendor Market Share worldwide lies on the 8th number among the table way behind AVAST, AVG and others. The acquisition will strengthen McAfee’s position in next generation firewall technology. As per McAfee, President, Michael DeCesare, the company is making a significant investment in next-generation firewall technology with pending addition of Stonesoft’s products and services.

Based out of Helsinki, Finland, Stonesoft Corporation has product portfolio of firewalls, evasion prevention systems, and SSL VPN solutions with a Customer base of 6,500 spread across the globe. According to Ilkka Hiidenheimo, CEO, Stonesoft, the combination of the two companies will allow Stonesoft to benefit from McAfee’s global presence and sales organization of over 2,200 employees, best-in-class threat research and technology synergies.

McAfee’s– Senior VP and GM of Network Security, Pat Calhoun explains in a blog post, Investment in Stonesoft will help McAfee to enhance and evolve its IPS platform to become the market-leading solution to help businesses defend against the most sophisticated and advanced threats. “Couple IPS and firewall with advanced threat intelligence, threat evasion expertise, leading web and email protection solutions, and there is no question McAfee will be leading the way in the network security space.” Pat elaborated further.

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McAfee, acquired by Intel for $7.7 bn in Aug 2010 – was awarded by gartner as a ‘visionary’ in 2013. Founded in 1990, the company is wholly owned Subsidiary of Intel Corporation.