In a big acquisition for Finland, McAfee has announced the acquisition of Helsinki-based Stonesoft for a nice €297 million in cash. As you might expect, Stonesoft is a security as a service solution, and leads research into cyber threats and advanced evasion techniques used in stealth cyber attacks, which is becoming a growing threat for businesses. Their focus is on all network sizes, like next-generation firewalls, evasion prevention systems, and SSL VPN solutions.
Their products are based on their Security Engine platform, where customers can pick and choose between hardware, software, or virtual security solutions. Stonesoft was founded in 1990, and is publicly traded on the NASDAQ OMX Helsinki. The price offered for shares is €4.50, representing a premium of 142%.
In the press release, Mcafee writes:
The rationale for the proposed acquisition is as follows:
- Network security is a vital component of a comprehensive security solution. Next-generation firewalls solve critical customer needs and represent one of the fastest growing market segments in network security.
- Stonesoft is a leading innovator in the next-generation firewall segment. Gartner positioned the company as “visionary” in the 2013 Network Security Firewall Magic Quadrant. Stonesoft achieved “recommended” status in NSS Labs’ latest 2013 firewall tests.
- With Stonesoft, McAfee expects to grow its network security business by delivering the industry’s most complete network security solution with three leading platforms: McAfee’s IPS Network Security Platform, McAfee’s Firewall Enterprise for the high assurance market segment, and Stonesoft’s next-generation firewall.
“Stonesoft is a leading innovator in this important market segment. We plan to integrate Stonesoft’s offerings with other McAfee products to realize the power of McAfee’s Security Connected strategy,” says Michael DeCesare, McAfee president.