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Cisco acquires cybersecurity company Sourcefire in $2.7B deal

updated 11:34 am EDT, Tue July 23, 2013

Sourcefire purchase will bolster Cisco corporate security range

Cisco has announced it has acquired Sourcefire, a company specializing in providing cybersecurity products to companies. The $2.7 billion purchase will bring the employees from the Maryland-based security firm into the Cisco Security Group, in a move that could help Cisco improve its corporate network security offerings.

The deal sees Cisco paying $76 per share for Sourcefire, a premium of over 20-percent on Monday's closing price, reports ZDNet. For the $2.7 billion price, Cisco will gain over 650 employees, based around the world, and a company that reports revenues of over $223 million per year, though the added security knowledge and accompanying technology is probably the most important part of the deal.

The acquisition of Sourcefire "adds a team with deep security DNA to Cisco," said the company in a statement, continuing "and will accelerate delivery of Cisco's security strategy of defending, discovering, and remediating advanced threats." Currently, Sourcefire provides automated security systems that offer continuous awareness, threat detection, and protection from intrusions, something that Cisco could easily roll into its own security products.

Both management teams for Cisco and Sourcefire have approved the acquisition, which the companies hope to complete in the second half of 2013.



By Electronista Staff
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