News Column

Cisco Snaps Up Sourcefire

July 23, 2013
Cisco headquarters (stock photo)

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

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 dollars 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.

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Source: Copyright 2013 dpa Deutsche Presse-Agentur GmbH

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