The acquisition, valued at just under $300 million, would be CyberGuard's fourth in about a year.
Network security vendor CyberGuard Corp. said Monday it has made an offer to acquire Secure Computing Corp.
The acquisition will be a one-for-one stock exchange based on the companies' July 9 closing stock price, CyberGuard said in a statement. According to the statement, the swap would represent a 22% premium for each Secure Computing share. The deal will be valued at just under $300 million.
Secure Computing manufactures a line of high-end firewall information-security appliances and authentication and Web-filtering products.
The acquisition would be CyberGuard's fourth in about a year. Last year, CyberGaurd acquired NetOctave, a maker of security chips and VPN accelerator hardware, and SnapGear, which made embedded Linux and VPN/firewall appliances. Most recently, CyberGuard acquired PC security vendor Webwasher Software, most known for its Windows-based content security software.
Secure Computing provides numerous information security applications, including identity-management and authentication software and hardware, firewalls, and VPN gateways.
5 Top Federal Initiatives For 2015As InformationWeek Government readers were busy firming up their fiscal year 2015 budgets, we asked them to rate more than 30 IT initiatives in terms of importance and current leadership focus. No surprise, among more than 30 options, security is No. 1. After that, things get less predictable.