Cisco has acquired security vendor Sourcefire in a $2.7bn (£1.76bn) deal that the networking giant claims will accelerate its security strategy.
The agreement has been signed off by directors at each company and is expected to close later this calendar year subject to customary conditions – during which time the firms will continue to trade separately.
Cisco said the Internet of Everything trend is "drastically changing" the IT security landscape, meaning traditional products are not good enough at properly protecting organisations. It added that Sourcefire's offerings were more innovative due to its advanced malware protection and next-generation firewalls and intrusion-prevention offerings.
Sourcefire's chief technology officer Martin Roesch said the acquisition will help expand the company's global reach.
Cisco's corporate development vice president Hilton Romanski added: "'Buy' has always been a key part of our build-buy-partner innovation strategy.
"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 defence, we have a unique opportunity to deliver the most comprehensive approach to security in the market."
The Maryland-based security firm employs 650 staff worldwide and for its full fiscal 2012 reported revenue of $223m, up 35 per cent annually. Upon completion, Sourcefire staff will join the Cisco Security Group.
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