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McAfee to acquire solidcore for up to $47m

McAfee to acquire solidcore for up to $47m

Security software provider McAfee (www.mcafee.com) announced on Friday it has agreed to purchase Solidcore Systems (www.solidcore.com) for about $33 million in cash up front.

According to the terms of the deal, Solidcore will receive another $14 million if certain performance targets are met.

The acquisition follows McAfee's November purchase of network security firm Secure Computing for $418 million.

Solidcore provides security technology that protects IT infrastructure from devices to the data center.

The company's products are used by more than 100 financial institutions and sold in more than 15,000 retail stores, says McAfee.

McAfee said the acquisition, which is expected to close in the second quarter, will help "expand its reach into new markets, secure new platforms and strengthen its hold as the leader in the $6 billion endpoint security market."

Solidcore is supported by investors Matrix Partners and Menlo Ventures, and Sevin Rosen Funds and JAFCO Ventures.

Once the deal closes, Solidcore's existing staff will be incorporated into McAfee's risk and compliance business unit.

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