The security software giant agreed to pay approximately $140 million in cash at closing for MX Logic, with an earn-out of up to an additional $30 million in cash if certain performance targets are met, the companies said.
McAfee said it will combine MX Logic's security software-as-a-service (SaaS) offerings with its Global Threat Intelligence offerings to create a comprehensive package of security services that includes cloud-based intelligence, Web security, email security, endpoint security, and vulnerability assessment -- all on an SaaS basis.
MX Logic currently has 40,000 customers with more than four million end users, the companies said. Approximately 1,800 MX Logic channel partners will now sell McAfee's security SaaS s
"The acquisition of MX Logic will reinforce our position as a leader in security SaaS," said Dave DeWalt, president and CEO of McAfee.
McAfee has been developing its products lines in a variety of form factors, including appliances, software, in the cloud or hybrid services. The idea is to give customers choices and allow them to mix and match, the company said. , the company observed. This approach will give
"We view McAfee as the leading dedicated security company and a pioneer in Security-as-a-Service," said John Street, chairman and CEO of MX Logic. "We will now be even better equipped to help our customers address the complex challenges associated with blocking spam, phishing scams, viruses in the cloud, and enforcing email policies to prevent sensitive data leaks."
Following the closing of the proposed acquisition, the MX Logic team will report to the McAfee SaaS business unit, headed by Marc Olesen, senior vice president and general manager, McAfee said.
The acquisition is expected to close in the third quarter of 2009, contingent upon regulatory approval.
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