McAfee is buying smaller IT security rival Secure Computing for $465m in cash.

Secure Computing is best known for its firewall and security appliances product lines but more recently it has been busy on the acquisition front, most recently with a deal to buy user control firm Securify for $20m earlier this month.

Prior to that Secure Computing bought messaging security appliance CipherTrust for $273.6m in July 2006.

According to McAfee, Secure Computing beef up its security risk management capabilities. It is paying $5.75 per share for Secure Computing, a 27 per cent premium on its closing price last week of $4.52.

The deal is expected to close by the end of the fourth quarter this year. ®

Related stories

• Watchguard bags BorderWare to push content security (4 August 2009)
• McAfee gobbles up MX Logic for cloud security push (31 July 2009)
• CommVault and McAfee team to fight gorilla (21 October 2008)
• Secure Computing snaps up user control firm Securify (4 September 2008)
• McAfee snaps up data loss prevention firm (1 August 2008)
• McAfee pays $51m for Hacker Safe (30 October 2007)
• Google acquires 'sandbox' technology for secure browsing (29 May 2007)
• McAfee erects Citadel (3 October 2006)
• Secure Computing buys CipherTrust (12 July 2006)