October 30, 2007 — (WEB HOST INDUSTRY REVIEW) — Security solution provider McAfee (mcafee.com) announced on Tuesday that it has signed a definitive agreement to acquire Internet security auditor ScanAlert (scanalert.com) for approximately $51 million in cash up front and with an earn-out of up to an additional $24 million if certain performance targets are met. McAfee says the acquisition will extend its leadership position in Web security and will help to guide the more than 116 million US consumers who shop online to safe e-commerce Web sites.
“Through this acquisition, we will enhance McAfee’s triple play protection by integrating ScanAlert’s e-commerce security certification service into our SiteAdvisor Web rating system,” says Dave DeWalt, CEO and president of McAfee. “This will create the industry’s only service that helps consumers stay safe as they search, surf, and now shop.”
ScanAlert, the creator of the HACKER SAFE security trust mark, will be integrated into McAfee’s Web Security Group, co-led by Ken Leonard, CEO of ScanAlert and by Tim Dowling, a vice president under McAfee’s consumer, mobile and small business unit, which is headed up by senior VP and general manager Todd Gebhart.
ScanAlert’s projected 2007 bookings are $15 million to $20 million and the acquisition is expected to close in the first quarter of 2008 pending satisfaction of customary closing conditions.
Last week, Covad partnered with McAfee to offer its customers McAfee Total Protection for Small Business services.
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