Cisco buys cyber security company Sourcefire for $2.7bn

Networking giant Cisco has reached an agreement to buy cyber security business Sourcefire in a $2.7bn deal

Networking giant Cisco has reached an agreement to buy cyber security organisation Sourcefire in a $2.7bn deal approved by the boards of both companies.

Cisco said the acquisition will accelerate delivery of Cisco's security strategy of defending, discovering and remediating advanced threats.

"Sourcefire aligns well with Cisco's future vision for security and supports the key pillars of our security strategy,” said Hilton Romanski, vice-president, Cisco corporate development.

“Through our shared view of the critical role the network must play in cyber security and threat defence, we have a unique opportunity to deliver the most comprehensive approach to security in the market.”

Christopher Young, senior vice-president at Cisco security group, said the notion of the "perimeter" no longer exists and today's sophisticated threats circumvent traditional, disparate security products.

“Organisations require continuous and pervasive advanced threat protection that addresses each phase of the attack continuum," he said.

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Young said the acquisition would enable the creation of one of the industry's most comprehensive, integrated security solutions that is simpler to deploy and offers better security intelligence.

Martin Roesch, Sourcefire founder and CTO, said the acquisition would help accelerate the realisation of the security firm’s vision for a new model of security across the extended network.

The acquisition is expected to close during the second half of calendar year 2013, subject to customary closing conditions and regulatory reviews.

Upon completion of the transaction Sourcefire employees will join the Cisco Security Group led by Christopher Young.

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