Websense acquires competitor SurfControl for $400 million
Leading web security provider Websense has taken a big chunk out of its competition, announcing today plans to acquire U.K.-based SurfControl for about $400 million.
San Diego-based Websense, a public company traded on the Nasdaq stock exchange, snatched its closest competitor to help it "compete more effectively with large global security software companies," CEO Gene Hodges said in a statement today.
The purchase will help Websense — makers of web filtering, leak prevention and internet security solutions — jumpstart its latest business objective: to better penetrate the small- and medium-sized business marketplace, the company said.
According to a letter sent by Hodges to customers, the deal also will allow Websense to deliver new software-as-a-service (SaaS) email security through BlackSpider Technologies, a U.K.-based on-demand provider that was acquired last year by SurfControl.
"This is an offer that is fully supported by SurfControl’s management team," Hodges said on a conference call today.
Websense today also named Doug Wride president. He will continue his role as chief financial officer but will now also be responsible for overseeing the acquisition.
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