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Cisco to Buy Security Software Firm Sourcefire for $2.7B; Christopher Young Comments

Cisco-LogoCisco (NASDAQ: CSCO) has agreed to acquire security software maker Sourcefire for $2.7 billion in a bid to build up its research and technology portfolio in threat protection.

Both boards of directors have approved the terms of the deal, under which Cisco will buy Sourcefire shares in cash at $76 per share, the joint announcement said Tuesday.

Sourcefire produces intrusion prevention systems, firewalls and malware protection products.

“The notion of the ‘perimeter’ no longer exists and today’s sophisticated threats are able to circumvent traditional, disparate security products, ” said Christopher Young, senior vice president of Cisco’s security group.

“Organizations require continuous and pervasive advanced threat protection that addresses each phase of the attack continuum, ” he added.

Cisco will assume Sourcefire’s outstanding equity awards, including incentives for eligible individuals.

Both companies expect the sale to be finalized before the end of 2013.

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