McAfee to Acquire MX Logic

McAfee announced that it 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

MX Logic is a leading global provider of cloud-based email and Web security and email archiving and continuity services. Adding MX Logic’s technologies and services will provide McAfee with a comprehensive cloud-based security portfolio in the industry, one that combines leading global threat intelligence technologies from McAfee with its Security-as-a-Service solutions:

“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 the most comprehensive and 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.

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 Vice President and General Manager.

The acquisition is expected to close in the third quarter of 2009, contingent upon regulatory approval and other customary closing conditions. McAfee expects the impact of the acquisition of MX Logic to be breakeven to slightly accretive in 2010 on non-GAAP earnings-per-share and more dilutive to GAAP earnings-per-share.

McAfee announced that it 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.

MX Logic is a leading global provider of cloud-based email and Web security and email archiving and continuity services. Adding MX Logic’s technologies and services will provide McAfee with a comprehensive cloud-based security portfolio in the industry, one that combines leading global threat intelligence technologies from McAfee with its Security-as-a-Service solutions:

“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 the most comprehensive and 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.

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 Vice President and General Manager.

The acquisition is expected to close in the third quarter of 2009, contingent upon regulatory approval and other customary closing conditions. McAfee expects the impact of the acquisition of MX Logic to be breakeven to slightly accretive in 2010 on non-GAAP earnings-per-share and more dilutive to GAAP earnings-per-share.

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