Sources inform ''Globes'' that information security giant McAfee Inc. (NYSE: MFE) plans to soon acquire an Israeli company. As part of the company’s global acquisition effort, two McAfee executives will arrive in Israel next week to examine information security technologies developed in Israel. The acquisition is reportedly intended to set up a McAfee development center in Israel by the end of the end of the year.
McAfee is the world’s second largest developer of antivirus programs, after Symantec (Nasdaq: SYMC), and is mostly known from this field. Most of the company’s business is still focused on the worldwide sale of antivirus products, but in recent years, it has been developing an increasing number of products in new fields, such as enterprise communications network security, encryption, and enterprise communications and information network risk management.
As part of McAfee’s business development, the company is interested in the Israeli market. With deep pockets of $1 billion, McAfee reportedly plans to spend tens of millions of dollars in acquiring an Israeli company in order to set up a development center in Israel. Sources close to McAfee said, “The company considers setting up a development office in Israel to be of paramount importance, in view of developments in the field in Israel.”
As part of McAfee’s efforts to expand its product and technology range, CTO and executive VP Christopher Bolin and executive VP, McAfee Corporate Security Parveen Jain will visit Israel next week. McAfee is reportedly negotiating with a number of Israeli companies, and has ten local data security, IT resources defense, and wireless installations IT security companies in its sights.
Published by Globes [online], Israel business news - www.globes.co.il - on March 13, 2006
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