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Cisco Systems to buy cybersecurity firm Sourcefire

July 23, 2013 at 9:30 AM   |   Comments

SAN JOSE, Calif., July 23 (UPI) -- U.S. technology giant Cisco Systems Inc. said Tuesday it would buy software company Sourcefire Inc. for $2.7 billion.

Sourcefire specializes in cybersecurity software.

Cisco said it would pay $76 per share of for Sourcefire, which was founded in 2001 and went public in 2007.

"Sourcefire aligns well with Cisco's future vision for security and supports the key pillars of our security strategy. Through our shared view of the critical role the network must play in cybersecurity and threat defense, we have a unique opportunity to deliver the most comprehensive approach to security in the market," said Hilton Romanski, vice president of Cisco Corporate Development.

"Sourcefire aligns well with Cisco's future vision for security and supports the key pillars of our security strategy. Through our shared view of the critical role the network must play in cybersecurity and threat defense, we have a unique opportunity to deliver the most comprehensive approach to security in the market."

"'Buy' has always been a key part of our build-buy-partner innovation strategy," Romanski said.

Martin Roesch, founder and chief technology officer of Sourcefire, said the deal would "help accelerate the realization of our vision for a new model of security across the extended network."

The deal, which is subject to regulatory scrutiny, is expected to close by the end of the year. After the closing, Sourcefire will continue to operate as a separate company, Cisco said.

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