McAfee has agreed to buy security vendor MX Logic for $140m, to strengthen its Software as a Service business. MX Logic could get an additional $30m if it reaches certain performance targets.
MX Logic is a provider of managed email and web security, archiving, and business continuity services. Reportedly, it has more than 1800 channel partners to provide Security SaaS partner ecosystem to cross sell McAfee Security SaaS services and develop co-branded and bundled offerings.
McAfee stated that adding MX Logic’s technologies and services will provide it with comprehensive cloud-based security portfolio. McAfee plans to offer a security portfolio with a set of delivery options including appliances, software, in the cloud or hybrid deployments, once the proposed acquisition is completed.
Following the conclusion the proposed acquisition deal, the MX Logic team will report to Marc Olesen, senior vice president, general manager and head of McAfee Software-as-a-Service business unit.
Dave DeWalt, president and chief executive officer of McAfee, said: “The acquisition of MX Logic will reinforce our position as a leader in Security-as-a-Service, and brings world-class email and web defense, including archiving and business continuity services, extending our proven expertise in providing cloud-based services to our customers. MX Logic aligns with the McAfee vision to lead Security SaaS by bringing industry-leading technologies and a strong partner ecosystem.”
The acquisition is expected to close in the third quarter of 2009, contingent upon regulatory approval and other customary closing conditions.
