McAfee to acquire MX Logic for $140 million

McAfeeMcAfee Inc, one of the leading security software makers, has entered into a definitive agreement to acquire privately owned MX Logic, Inc. for approximately US$140mn.

MX Logic is a leading global provider of cloud-based email and Web security and email archiving and continuity services. The firm has 40,000 customers and 4 million end users.

Following acquisition, McAfee will offer the most comprehensive and dedicated security portfolio in the market with the broadest set of delivery options including appliances, software, in the cloud or hybrid deployments.

McAfee's existing cloud-based security portfolio includes anti-malware scanning and vulnerability assessment services, among other items.

The acquisition, which is subject to regulatory approval and other customary closing conditions, is expected to close in third quarter of 2009.