Secure Computing Tuesday revealed plans to acquire messaging security vendor CipherTrust in a $273.6 million cash and stock deal.
CipherTrust, a privately held firm based in Alpharetta, Ga., develops technology that combats spam, viruses, and phishing, and host intrusion attempts. Last month the vendor rolled out its IronMail 6.5 appliance, which includes the ability to prevent sensitive corporate data from being sent out of the network, as well as block pornographic or other offensive images from arriving in e-mail.
In a statement, John McNulty, chairman, president and CEO of Secure Computing said the time is right for Secure, which acquired rival vendor Cyberguard last year in a $295 million deal, to continue investing in enterprise security. "After an extensive review and due diligence process, we believe CipherTrust is the perfect addition to Secure Computing," said McNulty.
Jay Chaudhry, founder and CEO of CipherTrust, will join Secure's board in a vice chairman role, and will also become the company's chief strategy officer.
Secure on Tuesday after the market closed lowered its second quarter outlook, cutting sales guidance to between $38.5 million and $39 million, down from its previous estimate of $43 million to $45 million.
Shares of San Jose, Calif.-based Secure closed Tuesday trading up 21 cents at $8.07. However, Secure shares tumbled in after hours trading.
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