McAfee has entered into a definitive agreement to acquire privately owned MX Logic for approximately $140 million in cash at closing, with an earn-out of up to an additional $30 million in cash if certain performance targets are met.
“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,” said Dave DeWalt, president and CEO, McAfee. “MX Logic aligns with the McAfee vision to lead Security SaaS by bringing industry-leading technologies and a strong partner ecosystem.”
Following completion of the proposed acquisition, McAfee will offer a dedicated security portfolio in the market with the broadest set of delivery options including appliances, software, in the cloud or hybrid deployments. This approach will give businesses in all market segments the flexibility to purchase these solutions as standalone offerings or to mix and match these deployment choices to meet their exact needs.
“We view McAfee as the leading dedicated security company and a pioneer in Security-as-a-Service,” said John Street, chairman and chief executive officer, MX Logic. “We will now be even better equipped to help our customers address the complex challenges associated with blocking spam, phishing scams, viruses in the cloud, and enforcing email policies to prevent sensitive data leaks.”
Following the closing of the proposed acquisition, the MX Logic team will report to the McAfee Software-as-a-Service business unit, headed by Marc Olesen, senior VP and general manager.