Funding/M&A

Cisco Completes $2.7 Billion Acquisition of Sourcefire

Cisco announced on Monday that has completed the acquisition of network security firm Sourcefire.

October 7, 2013

Cisco announced on Monday that has completed the acquisition of network security firm Sourcefire.

Under the terms of the agreement, which was announced on July 23, Cisco is paying $76 per share in cash in exchange for each share of Sourcefire and assuming outstanding equity awards for a total purchase price of roughly $2.7 billion, including retention-based incentives.

Cisco Acquires Sourcefire

Sourcefire

With the completion of the transaction, Sourcefire employees join the Cisco Security Group led by Christopher Young, senior vice president, Cisco Security Group. Additionally, Martin Roesch, founder and chief technology officer of Sourcefire, becomes vice president and chief architect for Cisco’s Security Group reporting directly to Young.

Cisco promised ongoing support for open source innovation and said it would continue to support Snort, ClamAV and other open source projects.

Columbia, MD-based Sourcefire was founded in 2001 and went public in 2007, and has more than 650 employees worldwide. Sourcefire reported 2012 revenue of $223.1 million.

All shares of Sourcefire were expected to be delisted from the NASDAQ stock market by the close of business on Monday, Cisco said.

Written By Mike Lennon

For more than 10 years, Mike Lennon has been closely monitoring the threat landscape and analyzing trends in the National Security and enterprise cybersecurity space. In his role at SecurityWeek, he oversees the editorial direction of the publication and is the Director of several leading security industry conferences around the world.

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