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This article was published on July 8, 2013

Intel’s McAfee completes $389m tender offer for Finnish network security firm Stonesoft

Intel’s McAfee completes $389m tender offer for Finnish network security firm Stonesoft Image by: Justin Sullivan
Robin Wauters
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Robin Wauters

Robin Wauters is the European Editor of The Next Web. He describes himself as a hopeless cyberflâneur, a lover of startups, his family a Robin Wauters is the European Editor of The Next Web. He describes himself as a hopeless cyberflâneur, a lover of startups, his family and Belgian beer. If you'd like to know more about Robin, head on over to robinwauters.com or follow him on Twitter.

Intel-owned security software company McAfee this morning announced that it has completed the tender offer of Helsinki, Finland-based network security firm Stonesoft. Its offer to acquire Stonesoft for $389 million was first announced on May 6th, and McAfee says the completion of the tender offer marks “a major milestone” for the deal.

It basically means Stonesoft is now a McAfee group (7,200 employees and counting) company, and all of the Finnish company’s products and technologies are part of the McAfee portfolio.

Michael DeCesare, president of McAfee, says:

This acquisition provides McAfee with a clear competitive advantage in the network security space and the industry has taken notice.

With the addition of one of the industry’s best next-generation firewalls, we now have one of the most complete and effective network security portfolios in the industry.

The Stonesoft team will become a part of the Network Security Business Unit led by former Cisco executive Pat Calhoun.

Image credit: Justin Sullivan / Getty Images