McAfee makes acquisition

McAfee to Provide Industry’s Most Comprehensive Security-as-a-Service Portfolio

McAfee, Inc. has announced that it has completed the acquisition of privately owned MX Logic, Inc. for approximately $140 million in cash, with an earn-out of up to an additional $30 million in cash if certain performance targets are met.

“With this transaction, McAfee is uniquely positioned to offer the most comprehensive cloud-based security portfolio in the industry—one that combines leading global threat intelligence technologies from McAfee with its Security-as-a-Service solutions,” said Marc Olesen, senior vice president and general manager, McAfee.

“Customers will be able to leverage the cloud to simplify their security architecture and enjoy access to a broader set of delivery options, including appliances, software or in-the-cloud deployments.”

MX Logic is a leading global provider of cloud-based email and Web security, email archiving and email continuity services. MX Logic protects approximately 40,000 customers and four million end users that will now be able to rely upon McAfee as a single source for complete security.

In addition, more than 1,800 MX Logic channel partners provide a strong Security Software-as-a-Service partner ecosystem to cross sell McAfee technology-based solutions and develop co-branded and bundled offerings.

As previously announced, the MX Logic team will report to the McAfee Software-as-a-Service business unit, headed by Olesen.

McAfee expects the impact of the acquisition of MX Logic to be breakeven to slightly accretive in 2010 on non-GAAP earnings-per-share and more dilutive to GAAP earnings-per-share.