Cisco has signed an agreement to acquire the US-based cybersecurity application provider Sourcefire for about $2.7bn, including retention-based incentives.
The deal will consolidate their products, technologies and research teams to offer advanced threat protection.
Following the acquisition, Cisco will add a team from Sourcefire, to speed up delivery of its security strategy to avoid advanced threats and will also support its customers with security in more places across the network.
Cisco Corporate Development VP, Hilton Romanski, said the acquisition is a part of the company’s build-buy-partner innovation strategy.
"Sourcefire aligns well with Cisco’s future vision for security and supports the key pillars of our security strategy," Romanski said.
"Through our shared view of the critical role the network must play in cybersecurity and threat defence, we have a unique opportunity to deliver the most comprehensive approach to security in the market."
Cisco Security Group senior VP, Christopher Young, said with the acquisition of Sourcefire, the company’s customers will benefit from integrated security applications that are simpler to deploy and offer better security intelligence.
"Organisations require continuous and pervasive advanced threat protection that addresses each phase of the attack continuum," Young added.
Sourcefire founder and chief technology officer, Martin Roesch, said: "Cisco’s acquisition of Sourcefire will help accelerate the realisation of our vision for a new model of security across the extended network."
Sourcefire offers automated security through awareness, threat detection and protection with its portfolio including intrusion prevention systems, next-generation firewalls, and advanced malware protection applications.
