Cisco To Spend $2.7 Billion on Cybersecurity Company

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Cisco has a deal in place to buy Sourcefire, a provider of cybersecurity solutions. The two companies plan to combine their products, technologies and research teams to provide what they call “continuous and pervasive advanced threat protection” across the entire attack continuum before, during and after an attack and from any device to any cloud.

Sourcefire claims to deliver innovative, highly automated security through continuous awareness, threat detection and protection across its portfolio, which includes next-generation intrusion prevention systems, next-generation firewalls, and advanced malware protection.

Cisco will pay $76 per share for Sourcefire, or $2.7 billion in cash, which includes the company’s debt. The boards of both companies have approved the sale.

“Sourcefire aligns well with Cisco’s future vision for security and supports the key pillars of our security strategy,” said Hilton Romanski, vice president, Cisco corporate development. “Through our shared view of the critical role the network must play in cybersecurity and threat defense, we have a unique opportunity to deliver the most comprehensive approach to security in the market.”

The acquisition is expected to close during the second half of the year. It’s subject to customary closing conditions and regulatory reviews.

Sourcefire was founded in 2001 and completed its initial public offering in 2007. The company is based in Columbia, Md. In 2012, Sourcefire reported revenue of $223 million, an increase of 35 percent year-over-year.

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