MCI To Acquire NetSec For $105 MillionMCI To Acquire NetSec For $105 Million
The acquisition is the latest in a consolidating managed security-services market.
January 20, 2005
MCI on Thursday entered into an agreement to acquire managed security-services company NetSec Inc. for $105 million cash. The companies expect the transaction to be completed within 30 days.
NetSec's flagship product, Finium, takes security related information from security devices, such as firewalls, intrusion-detection systems, and vulnerability scanners, and correlates that information against a database of known threats, providing organizations with a better view into how their security defenses will fend off attacks. Consolidation has been under way for years in the managed security-services market. Among the largest deals were Symantec's 2002 acquisition of Riptech for $145 million; VeriSign's 2003 acquisition of Guardent for $140 million; and the merger of TruSecure and Betrusted Holdings in November to form CyberTrust, with combined annual revenue of about $160 million.
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