McAfee acquiring SafeBoot for $350 million

Security software maker McAfee has announced their decision to acquire SafeBoot for $350 million.

This acquisition is aiming to further enhance their product portfolio in this increasingly competitive segment of the market.

SafeBoot specializes in encryption and access control products and they would now be used to expand McAfee’s risk management services.

McAfee added in a statement that SafeBoot will be a “strong complement” to McAfee’s existing offerings.

Dave DeWalt, McAfee’s president and CEO further stated: “SafeBoot’s industry-leading mobile security solutions address a critical pain point for customers — the protection of confidential and proprietary information. With the acquisition of SafeBoot, McAfee becomes a leader in the fast-growing $1 billion encryption market, and we 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.”

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