Cisco Acquires Intelligent Cybersecurity Firm Sourcefire For $2.7 Billion

Posted on Jul 23 2013 - 8:57pm by Editorial Staff

Cisco

The networking giant Cisco today announced that it has reached a definitive agreement to acquire security software company Sourcefire for $2.7 billion. The addition of Sourcefire – which itself known well for intelligent cybersecurity solutions – will adds a deeper security DNA to Cisco and will leads on delivering Cisco’s security strategy of defending, discovering, and remediating advanced threats.

As per the agreement terms, Cisco will pay Sourcefire $76 per share in cash, paying approximately $2.7 billion. Since the acquisition was approved by Cisco and Sourcefire’s board of directors, the acquisition is expected to close during the second half of 2013. Founded back in 2001, Sourcefire has over 650 employees’ worldwide with reporting revenue of $223.1 million in the previous fiscal year.

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Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.