McAfee acquires Solidcore Systems

According to Associated Press, McAfee Inc., a computer security company, has announced today it would buy privately owned Solidcore Systems Inc. for about $33 million. Besides the upfront payment, the deal also includes another $14 million if certain performance targets are met. Cupertino, Calif.-based Solidcore provides computer security technology that protects against vulnerable or malicious applications and ensures that only pre-authorized software and can run on servers, mobile gadgets and other devices. McAfee commented the purchase which “will help to expand its reach into new markets, secure new platforms and strengthen its hold as the leader in the $6 billion endpoint security market” and added that “it expects the acquisition to decrease earnings per share and "slightly" decrease adjusted earnings per share in the second quarter.” The deal is expected to close in the second quarter.