By Mark Sutton
McAfee announces acquisition of SafeBoot to extend portfolio into data encryption
McAfee has announced that it has purchased encryption specialist SafeBoot for $350 million, to build out its data protection portfolio.
Under the deal, which is due to close in the fourth quarter of this year, McAfee will acquire privately-owned SafeBoot to add its range of enterprise encryption solutions to its security portfolio. SafeBoot's products will be combined with McAfee's own Data Loss Prevention products in a new Data Protection business unit under SafeBoot CEO Gerhard Watzinger.
SafeBoot solutions enable enterprises to encrypt individual files and folders, as well as encrypting hard drives for a range of mobile devices such as laptops, smart phones, USB drives and PDAs. The product range also includes centralized encryption management solutions, which McAfee plans to integrate into its own management console, e Policy Orchestrator.
Dave DeWalt CEO and president of McAfee said that SafeBoot's solutions will naturally complement McAfee's existing solutions, especially in growth areas such as mobile security.
"SafeBoot's industry-leading mobile security solutions address a critical pain point for customers; the protection of confidential and proprietary information. With the acquisition of SafeBoot, McAfee becomes a leader in the fast-growing $1 billion encryption market and we will be able to offer a complete data protection solution that combines SafeBoot's device, full-disk and content encryption with McAfee's data loss prevention solutions. This combination helps advance our Security Risk Management strategy and extend our leadership at the end-point," said DeWalt.