Info-tech

Cisco snaps up security firm Sourcefire for $ 2.7 bn

DPA San Francisco | Updated on March 12, 2018

EW21_CISCO

Cisco is to buy cyber-security firm Sourcefire for $ 2.7 billion, the networking equipment maker said yesterday.

Sourcefire, founded in 2001, builds security platforms that protect corporate and Government customers with an array of firewalls, intrusion detection software and advanced malware protection.

Cisco said it would pay $ 76 per share in cash for the company, representing a 29 per cent premium on Sourcefire’s previous closing price.

The massive deal underlines the growing threat of computer-based attacks and will allow Cisco to offer a more complete package of services to its enterprise and Government customers.

“With the acquisition of Sourcefire, we believe our customers will benefit from one of the industry’s most comprehensive, integrated security solutions — one that is simpler to deploy, and offers better security intelligence,” Christopher Young, senior Vice-President of Cisco’s security group, said in a statement.

Published on July 24, 2013

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