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WASHINGTON: McAfee, Inc., the second largest US maker security software, on Monday announced the execution of a merger agreement to acquire California-based Secure Computing Corporation for approximately $413 million (representing the equity value for Se cure Computing’s common stock).

In addition, Secure Computing’s outstanding shares of preferred stock will also be redeemed for cash as part of the proposed transaction, which would represent approximately, calculated as on date, an additional $84 million. In total, net of cash held by Secure, the proposed transaction would be valued at approximately $465 million.

Secure Computing is a leader provider of network security with a product portfolio that spans businesses of all sizes. Through the pending acquisition of Secure Computing, McAfee expects to take another step toward its goal of strengthening its leadershi p position in security risk management (SRM).

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