Secure Computing announced Friday that it has entered into an acquisition agreement with CipherTrust, a move that Secure Computing expects to increase profits by more than $80 million in 2007.
CipherTrust provides layered security solutions to stop inbound messaging threats such as spam, viruses and protects against outbound policy and compliance violations resulting in data leakage.
The $273.6 million deal includes a cash offering of $185 million, $10 million inshares of Secure Computing common stock and a $10 million seller note that is subject to performance obligations.
“Over the past few months, we have made excellent progress with the integration of CyberGuard,” says John McNulty, chairman, president and CEO of Secure Computing. “With the brunt of the initial integration activity now behind us, we believe the time is right to continue investing in enterprise gateway security, which is experiencing strong growth. After an extensive review and due diligence process, we believe CipherTrust is the perfect addition to Secure Computing.”