McAfee snaps up SafeBoot for $350 million

Summary:McAfee today announced plans to shell out $350 million to buy SafeBoot, a deal that strengthens the anti-virus vendor's push into the mobile data security market.

McAfee snaps up SafeBoot for $350 million
McAfee today announced plans to shell out $350 million to buy SafeBoot, a deal that strengthens the anti-virus vendor's push into the mobile data security market.

The acquisition gives McAfee a pioneer in the encryption, identity management and access/device control business and a solid addition to its own DLP (data loss prevention) offerings.

SafeBoot boasts of having five million active end-user licences worldwide -- 4100 customers in 76 countries -- including 18 of the top 50 companies in the Forbes Global 2000 list for 2006.

The company recently inked a deal to provide the U.S. Department of Agriculture with device encryption, whole disk encryption and port control solutions across 29 agencies and 180,000 users throughout the United States.

The McAfee purchase comes just one month after SafeBoot announced plans for an IPO (initial public offering) on Euronext Amsterdam. The Dutch firm generated revenues of €28.9 million (US$40.5 million) for the full year ended December, 2006.

Topics: Security, Banking, Legal

About

Ryan Naraine is a journalist and social media enthusiast specializing in Internet and computer security issues. He is currently security evangelist at Kaspersky Lab, an anti-malware company with operations around the globe. He is taking a leadership role in developing the company's online community initiative around secure content managem... Full Bio

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