Cisco Completes Acquisition of Sourcefire
October 07 2013 - 4:30PM
Marketwired
Cisco Completes Acquisition of Sourcefire
SAN JOSE, CA--(Marketwired - Oct 7, 2013) - Cisco (NASDAQ:
CSCO) today announced it has completed the acquisition of
Sourcefire (NASDAQ: FIRE), a leader in intelligent cybersecurity
solutions. With the close of this acquisition, Cisco will provide
one of the industry's most comprehensive advanced threat protection
portfolios, as well as a broad set of enforcement and remediation
options that are integrated, pervasive, continuous and open.
The increased scrutiny on security is being driven by the
evolving trends of mobility, cloud computing, and advanced targeted
attacks. More than the attacks themselves, a major consideration is
the change in what defines a network, which goes beyond traditional
firewalls and includes data centers, endpoints, virtual and mobile
to make up the extended network. A threat-centric security model
lets defenders address the full attack continuum, across all attack
vectors, and respond at any time, all the time.
"To truly protect against all possible attack vectors, our focus
is to examine the nature of modern networked environments and
devices and to defend them by deeply understanding and analyzing
the mindset of the attackers," said Christopher Young, senior vice
president, Cisco Security Group. "Cisco's portfolio of integrated
solutions support this focus by delivering unmatched visibility and
continuous advanced threat protection, allowing customers to act
smarter and more quickly -- before, during, and after an
attack."
Cisco and Sourcefire customers will benefit from Cisco's
commitment to drive forward both the ASA and FirePOWER™ platforms.
Cisco is also committed to open source innovation and will continue
to support Snort®, ClamAV® and other open source projects.
With the completion of the transaction, Sourcefire employees
join the Cisco Security Group led by Young. Additionally, Martin
Roesch, founder and chief technology officer of Sourcefire, becomes
vice president and chief architect for Cisco's Security Group
reporting directly to Young.
Under the terms of the agreement, Cisco is paying $76 per share
in cash in exchange for each share of Sourcefire and assuming
outstanding equity awards for an aggregate purchase price of
approximately $2.7 billion, including retention-based incentives.
Cisco expects the acquisition to be slightly dilutive to non-GAAP
earnings in fiscal year 2014 due to normal purchase accounting
adjustments and integration costs. All shares of Sourcefire
are expected to be delisted from the NASDAQ stock market by the
close of business today.
Additional Information:
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Tags / Keywords:
Cisco, Sourcefire, security, cybersecurity, opensource
About Cisco
Cisco (NASDAQ: CSCO) is the worldwide leader in IT that helps
companies seize the opportunities of tomorrow by proving that
amazing things can happen when you connect the previously
unconnected. For ongoing news, please go to
http://thenetwork.cisco.com.
Cisco and the Cisco logo are trademarks or registered trademarks
of Cisco and/or its affiliates in the U.S. and other countries. A
listing of Cisco's trademarks can be found at
www.cisco.com/go/trademarks. Third-party trademarks mentioned are
the property of their respective owners. The use of the word
partner does not imply a partnership relationship between Cisco and
any other company.
Forward-Looking Statements
This written communication may be deemed to contain
forward-looking statements, which are subject to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995,
including statements regarding Cisco providing one of the
industry's most comprehensive advanced threat protection portfolios
as well as a broad set of enforcement and remediation options, the
expected benefits to Cisco and its customers, the expected
financial performance of Cisco (including earnings projections)
following completion of the acquisition, and plans regarding
Sourcefire personnel. Statements regarding future events are based
on Cisco's current expectations and are necessarily subject to
associated risks related to, among other things, the potential
impact on the business of Sourcefire as a result of the
acquisition, general economic conditions, the retention of
employees of Sourcefire and the ability of Cisco to successfully
integrate Sourcefire's market opportunities, technology, personnel
and operations and to achieve expected benefits. Therefore,
actual results may differ materially and adversely from those
expressed in any forward-looking statements. For information
regarding other related risks, see the "Risk Factors" section of
Cisco's most recent report on Form 10-K filed with the SEC on
September 10, 2013. Cisco undertakes no obligation to revise or
update any forward-looking statements for any reason.
Press Contact: Robyn Jenkins-Blum 408-853-9848
rojenkin@cisco.com Industry Analyst Contact: Trevor Bratton
949-823-1212 trbratto@cisco.com Investor Relations Contact: Carol
Villazon 408-527-6538 carolv@cisco.com
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