Intel security unit McAfee, the semiconductor’s largest acquisition ever, is buying Stonesoft Oyi, a Finnish company founded in 1990 that’s got next-generation network firewalls. It’s paying $389 million cash.
That’s a 128% premium to the outfit’s closing price on May 3 or $5.90 (€4.5) a share.
Intel, which says it’s been looking for a better firewall solution and evasion-prevention widgetry for some time to ward off cyber-attacks, expects the market to be worth over $4 billion by 2016.
CEO Ilkka Hiidenheimo, who owns 16.3% of the company and will make $61.5 million on the deal, claims Stonesoft+McAfee will offer “a 360-degree solution.”