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Innovation

McAfee buys security-in-the-cloud provider MX Logic

The company has also beaten second-quarter estimates and delivered a better-than-expected third-quarter outlook
Written by Larry Dignan, Contributor on

McAfee on Thursday acquired MX Logic, which provides on-demand email, continuity and web services, for $140m.

The move is designed to bolster McAfee's security-as-a-service line-up. MX Logic has 40,000 customers who cover more than four million end users.

McAfee said it plans to cross-sell MX Logic with its web services such as the Total Protection Service.

Separately, McAfee topped second-quarter estimates and delivered a better-than-expected third-quarter outlook.

The company reported second quarter net income of $28.7m (£17.4m), or 18 cents a share, down from $47.8m, or 30 cents a share, a year ago. Non-Gaap earnings in the second quarter were 60 cents a share, three cents better than expectations. Second quarter revenue of $468.7m was up 18 percent from a year ago.

McAfee said that its enterprise revenue was up 21 percent in the second quarter to $291m. The company also closed 424 deals worth more than $100,000 and 57 deals worth more than $500,000 and 28 worth more than $1m. That tally indicates that McAfee may be putting pressure on Symantec, which reported disappointing enterprise results.

In McAfee's consumer business second quarter revenue was up 13 percent to $177m.

As for the outlook, McAfee said third-quarter revenue will be between $475m and $495m. Non-Gaap earnings will be 58 cents a share to 62 cents a share. Wall Street was expecting non-Gaap earnings of 59 cents a share on revenue of $477.7m.

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