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McAfee, Inc. Completes Acquisition of Solidcore Systems, Inc.
McAfee Combines Continuous Compliance and Dynamic Application Whitelisting to Significantly Expand its Market Reach
SANTA CLARA, Calif., Jun 01, 2009 (BUSINESS WIRE) -- McAfee, Inc. (NYSE: MFE) today announced that it has completed the acquisition of privately owned Solidcore Systems, Inc. for approximately $33 million in cash up front and with an earn-out of up to an additional $14 million if certain performance targets are met. McAfee can now offer the industry's first end-to-end compliance solution that includes dynamic whitelisting and application trust technology, antivirus, antispyware, host intrusion prevention, policy auditing and firewall technologies.
As businesses seek to more easily mitigate the risks associated with vulnerable or malicious applications downloaded by employees, they will extend beyond signature-based anti-malware with the addition of dynamic whitelisting and application trust technology. The integration of Solidcore with McAfee will provide customers with a high level of system integrity and security across their physical and virtual environments, and allow customers to more quickly and easily meet compliance requirements.
"Solidcore has become a critical component to our ability to meet our Payment Card Industry compliance requirements, while protecting our point of sale infrastructures throughout all of our 193 stores across Canada," said Mike Lewis, executive vice president and CIO for Giant Tiger Stores, one of the largest family discount store chains in Canada. "As a McAfee ePolicy Orchestrator software customer, we are eager to reap the combined benefits of Solidcore's dynamic whitelisting and real-time file integrity monitoring with the comprehensive security and compliance management capabilities of the McAfee ePO console. This is definitely a win-win for our company and our investments."
"IT organizations need broad sets of solutions that help manage across multiple stovepipes in order to give IT executives a clear view of what's happening within the company's IT infrastructure," said Fred Broussard, research director for PC, Device and IT Service Management at IDC. "With Solidcore's compliance and governance capabilities, McAfee gains granular control over managing changes to the IT environment. This capability is especially important to IT organizations that use process standards like ITIL to help manage their IT environments."
"With this transaction, McAfee has significantly expanded its reach to include security for embedded devices, including automated teller machines, point of sale systems, multifunction printers, Supervisory Control and Data Acquisition systems (SCADA) and mobile devices," said George Kurtz, senior vice president and general manager, McAfee. "We will give customers a single security platform for dynamic file and application control across the enterprise following the integration of Solidcore's products into the McAfee ePolicy Orchestrator console. The end result will be improved IT compliance, security and availability."
For additional information, please reference the acquisition landing page at http://www.mcafee.com/us/about/corporate/mcafee_Solidcore.html and the McAfee Security Insights Blog at http://siblog.McAfee.com/.
About McAfee, Inc.
McAfee, Inc., headquartered in Santa Clara, California, is the world's largest dedicated security technology company. McAfee is committed to relentlessly tackling the world's toughest security challenges. The company delivers proactive and proven solutions and services that help secure systems and networks around the world, allowing users to safely connect to the Internet, browse and shop the web more securely. Backed by an award-winning research team, McAfee creates innovative products that empower home users, businesses, the public sector and service providers by enabling them to prove compliance with regulations, protect data, prevent disruptions, identify vulnerabilities, and continuously monitor and improve their security. http://www.mcafee.com.
Forward-Looking Statements:
This release contains forward-looking statements, which include those regarding McAfee's future plans for the Solidcore business, McAfee's expectations as to the opportunities resulting from the acquisition of the Solidcore business, and McAfee's expectations regarding the integration of Solidcore's products and business. Factors that could cause the actual results or outcomes from the acquisition to be materially different from those anticipated include, among others, the inability to integrate successfully Solidcore within McAfee and the customer response to, and acceptance of, the combination of Solidcore's products with McAfee's products. In addition, actual results are subject to other risks and uncertainties that relate more broadly to McAfee's overall business, including those more fully described in McAfee's filings with the SEC, including its annual report on Form 10-K for the year ended December 31, 2008, and its subsequent quarterly report on Form 10-Q. The forward-looking statements in this press release are based on information available to McAfee as of the date hereof, and McAfee expressly disclaims any obligation to update any forward-looking statements.
NOTE: McAfee, ePolicy Orchestrator, Solidcore and any additional McAfee marks herein are registered trademarks of McAfee, Inc. and/or its affiliates in the U.S. and/or other countries. McAfee Red in connection with security is distinctive of McAfee brand products. All other registered and unregistered trademarks herein are the sole property of their respective owners. Product specifications subject to change at any time without prior notice. © 2009 McAfee, Inc. All rights reserved.
SOURCE: McAfee, Inc.
McAfee Investor Relations:
McAfee, Inc.
Kelsey Doherty, 917-842-0334
Kelsey_Doherty@McAfee.com
or
McAfee Public Relations:
McAfee, Inc.
Tracy Ross, 650-245-8466
Tracy_Ross@mcafee.com
or
McAfee, Inc.
Tony Thompson, 408-387-8444
TThompson@mcafee.com
Copyright Business Wire 2009
