McAfee, Inc., a U.S. manufacturer of software anti-virus programs and computer security products, has announced that it will acquire privately held SafeBoot B.V. of The Netherlands, which will add an important new tool to McAfee’s technology chest: data encryption technology.
SafeBoot sells software that allows users to encrypt information stored on devices (such as cell phones) as well as information stored on hard drives and entire hard drivers through the use of a password. Without the password to access it the encrypted data is locked and is not usable. This encryption technology is in high demand, given the recent security breaches and access to highly confidential information that have made the news headlines, and also will provide security for events where computers containing sensitive and/or private information are lost or stolen.
This is the first acquisition for McAfee since it hired new CEO Dave DeWalt last spring. The SafeBoot acquisition will cost McAfee $350 million. McAfee indicated that it is looking at making more acquisitions to round out its security risk management product line, and reportedly has a cash “war chest” of roughly $1.4 billion available for acquisitions.
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