Intel's McAfee to Acquire Firewall Provider for $389 Million

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McAfee, a wholly owned subsidiary of Intel , has  agreed to acquire network firewall solutions provider Stonesoft, offering $5.90 for each outstanding share of Stonesoft in the all-cash deal, equal to a 128% premium relative to Stonesoft's May 3 closing price.

The total value of the acquisition announced today is approximately $389 million.

Stonesoft, based in Helsinki, Finland, has more than 6,500 customers worldwide and is expected to complement McAfee's existing suite of Internet and network security products and services.


Stonesoft CEO Ilkka Hiidenheimo was quoted as saying, "Combined, we believe we can offer our customers a world-class product portfolio with world-class support -- all backed by Intel."

The Stonesoft board of directors has unanimously voted to recommend that its shareholders accept McAfee's offer. The deal is subject to Stonesoft shareholder approval and standard closing conditions.

 

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The article Intel's McAfee to Acquire Firewall Provider for $389 Million originally appeared on Fool.com.

Fool contributor Tim Brugger has no position in any stocks mentioned. The Motley Fool recommends Intel. The Motley Fool owns shares of Intel. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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