McAfee to acquire SafeBoot for US$350 million
ConvergenceAsia staff
10/10/2007

Security technology company McAfee has announced a definitive agreement to acquire privately owned SafeBoot for US$350 million in cash.

SafeBoot, an enterprise security software vendor, delivers enterprise-class encryption and leads the mobile security market with its fully integrated end-point security and content encryption solutions.

"SafeBoot's industry-leading mobile security solutions address a critical pain point for customers - the protection of confidential and proprietary information," said Dave DeWalt chief executive officer and president of McAfee. "With the acquisition of SafeBoot, McAfee will be able to offer a complete data protection solution that combines SafeBoot's device, full-disk and content encryption with McAfee's data loss prevention solutions."

SafeBoot’s customer base is geographically diverse, with about 47 per cent in Europe, the Middle East and Asia, 29 per cent in North America, and 23 per cent in Asia Pacific.

By adding SafeBoot's encryption technology and enterprise management tools, McAfee will further advance its enterprise data protection offerings, and pursue SafeBoot's significant and untapped opportunities in the SMB and consumer markets. This combination will enable McAfee customers to deploy encryption technology that is integrated with McAfee security solutions, while providing SafeBoot customers with the ability to integrate McAfee products into their current SafeBoot deployment.

Said Gerhard Watzinger, chief executive officer of SafeBoot, "As we combine McAfee's resources and SafeBoot's technology and capabilities, we will be even better equipped to help our customers address the complex challenges of managing their data security, and position both companies to capture new opportunities in our rapidly growing markets."

The acquisition is expected to close in the fourth quarter of 2007 pending regulatory reviews.

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