Recently, it was announced by Netgear Inc., a networking-equipment maker, that CP Secure Inc., a provider of security solutions would be taken over by them though a deal of $17.5 million. CP Secure Inc, that provides security, basically protects against Internet-originated web and email based malware threat. 

To acquire CP Secure’s assets, Netgear, a California based company will pay $14 mn in cash and if in case CP Secure hits unspecified objectives before the closure of the acquisition, it will be paid additional $3.5 mn. 

Once the transaction would be completed, Shuang Ji, CP Secure’s Chief Executive Officer, will be appointed as NETGEAR’s Vice President of Engineering for security products. The deal would most probably close in the Q4 of this year, said Netgear.