Cisco Systems has announced to buy the privately held Web security company ScanSafe for about $183 million, a move that will intensify its battle with security giants Symantec and McAfee. ScanSafe sells Web-based services that protect business computer networks and PCs from hackers, saving companies the cost of buying and installing software on their own equipment.
The top two security software companies, Symantec and McAfee, already sell such products, which are known as "cloud" services and whose sales are growing at a far faster clip than traditional software. As reported by Reuters, Cisco announced the deal on Tuesday, saying that the transaction is expected to close in its fiscal second quarter that ends in January 2010. The $183 million price tag includes cash and retention-based incentives, as per Cisco.
The deal helps Cisco expand its security portfolio, which includes email and Web security software company IronPort that it bought in 2007. San Jose, California-based Cisco has recently stepped up its pace of acquisitions. It announced deals for wireless equipment maker Starent Networks for $2.9 billion and Norwegian video conferencing maker Tandberg for $3 billion. Chief Executive John Chambers has said that he was looking to do more.
Agencies
Showing posts with label McAfee. Show all posts
Showing posts with label McAfee. Show all posts
Thursday, October 29, 2009
Thursday, June 11, 2009
Free anti-virus software from Microsoft
Microsoft Corp is getting ready to unveil a long-anticipated free anti-virus service for PCs that will compete with products sold by Symantec Corp and McAfee Inc. A Microsoft spokesman said on Wednesday that the world's biggest software maker is testing an early version of the product with its own employees.
Microsoft would "soon" make a trial version, or product beta, available via its website, he added, but declined to provide a specific date. Symantec shares fell 1.6 percent in afternoon trading and McAfee fell 1.8 percent, while Microsoft was up 1.1 per cent.
The Nasdaq composite index was down 1.2 per cent. Investors are closely monitoring the free service, code-named Morro after after Brazil's Morro de Sao Paolo beach, amid concern it could hurt sales of products from Symantec and McAfee, which generate billions of dollars of revenue a year protecting Windows PCs from attacks by hackers.
"It's a long-term competitive threat," said Daniel Ives, an analyst with FBR Capital Markets, though he added that the near-term impact was minimal. Microsoft has said that Morro will offer basic features for fighting a wide-range of viruses, which would likely make it comparable to low-end consumer products from Symantec and McAfee that cost about $40 per year.
Their top-selling products are security suites that come with features including encryption, firewalls, password protection, parental controls and data backup. Three years ago, Microsoft entered that market with Live OneCare, which turned out to be a commercial flop.
It announced plans in November to kill that product suite, saying it would launch the free Morro service by the end of 2009. Analysts said they are looking forward to examining Morro's beta to see exactly how its features compare to those in products from competitors. Microsoft has said it will provide protection from several types of malicious software including viruses, spyware, rootkits and trojans.
Officials with Symantec and McAfee have said they do not see Morro as a threat. Joris Evers, a spokesman for No 2 security software maker McAfee, said his company is already enjoying strong growth despite competition from free anti-virus products that are on the market.
"On a level playing field, we are confident in our ability to compete with anyone who might enter the marketplace," he said. A spokesman for Symantec, the biggest security software maker, could not be reached for comment. Trend Micro Inc, the No 3 player, declined comment.
Agencies
Microsoft would "soon" make a trial version, or product beta, available via its website, he added, but declined to provide a specific date. Symantec shares fell 1.6 percent in afternoon trading and McAfee fell 1.8 percent, while Microsoft was up 1.1 per cent.
The Nasdaq composite index was down 1.2 per cent. Investors are closely monitoring the free service, code-named Morro after after Brazil's Morro de Sao Paolo beach, amid concern it could hurt sales of products from Symantec and McAfee, which generate billions of dollars of revenue a year protecting Windows PCs from attacks by hackers.
"It's a long-term competitive threat," said Daniel Ives, an analyst with FBR Capital Markets, though he added that the near-term impact was minimal. Microsoft has said that Morro will offer basic features for fighting a wide-range of viruses, which would likely make it comparable to low-end consumer products from Symantec and McAfee that cost about $40 per year.
Their top-selling products are security suites that come with features including encryption, firewalls, password protection, parental controls and data backup. Three years ago, Microsoft entered that market with Live OneCare, which turned out to be a commercial flop.
It announced plans in November to kill that product suite, saying it would launch the free Morro service by the end of 2009. Analysts said they are looking forward to examining Morro's beta to see exactly how its features compare to those in products from competitors. Microsoft has said it will provide protection from several types of malicious software including viruses, spyware, rootkits and trojans.
Officials with Symantec and McAfee have said they do not see Morro as a threat. Joris Evers, a spokesman for No 2 security software maker McAfee, said his company is already enjoying strong growth despite competition from free anti-virus products that are on the market.
"On a level playing field, we are confident in our ability to compete with anyone who might enter the marketplace," he said. A spokesman for Symantec, the biggest security software maker, could not be reached for comment. Trend Micro Inc, the No 3 player, declined comment.
Agencies
Tuesday, May 19, 2009
Is McAfee set to acquire Solidcore systems?
McAfee, one of the world's largest security technology companies, is set to take over Solidcore Systems, a provider of dynamic whitelisting technology.
Both the companies have entered into an agreement with McAfee paying $33 million in cash up front and an earn-out of up to an additional $14 million if certain performances targets are met. Following the agreement, McAfee expects to couple Solidcore's dynamic application whitelisting with McAfee blacklisting or graylisting capabilities to give customers a single security platform for dynamic application control across the enterprise. Solidcore uses dynamic whitelisting technology to protect against vulnerable or malicious applications and ensure that only pre-authorized software and code can run on servers, endpoints, fixed function devices and mobile devices.
This acquisition will provide McAfee with an added heft to tackle various security challenges and help users to safely connect to the internet, browse and shop the web more securely. Solidcore's strong foot hold in market will also help McAfee to extend its reach to ATMs, Point of sale (POS) systems, Multifunction Printers (MFPs), Supervisory Control and Data Acquisition (SCADA) systems, mobile and other embedded devices.
Post-acquisition, the Solidcore team will be incorporated into the McAfee Risk and Compliance business unit, headed by George Kurtz, SVP and GM of McAfee.
The acquisition, which is expected to close in the second quarter of this year, is McAfee's third major buy-out since it took over Secure Computing for $500 million in August 2008.
Agencies
Both the companies have entered into an agreement with McAfee paying $33 million in cash up front and an earn-out of up to an additional $14 million if certain performances targets are met. Following the agreement, McAfee expects to couple Solidcore's dynamic application whitelisting with McAfee blacklisting or graylisting capabilities to give customers a single security platform for dynamic application control across the enterprise. Solidcore uses dynamic whitelisting technology to protect against vulnerable or malicious applications and ensure that only pre-authorized software and code can run on servers, endpoints, fixed function devices and mobile devices.
This acquisition will provide McAfee with an added heft to tackle various security challenges and help users to safely connect to the internet, browse and shop the web more securely. Solidcore's strong foot hold in market will also help McAfee to extend its reach to ATMs, Point of sale (POS) systems, Multifunction Printers (MFPs), Supervisory Control and Data Acquisition (SCADA) systems, mobile and other embedded devices.
Post-acquisition, the Solidcore team will be incorporated into the McAfee Risk and Compliance business unit, headed by George Kurtz, SVP and GM of McAfee.
The acquisition, which is expected to close in the second quarter of this year, is McAfee's third major buy-out since it took over Secure Computing for $500 million in August 2008.
Agencies
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