McAfee's Protecting Shareholders
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The security software company continues to piece together its turnaround.
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(InfoWorld) - McAfee plans to deliver more scalable versions of its e-mail and Web security appliances designed for enterprise users. The new products will be available by year's end, according to McAfee CTO Christopher Bolin, who discussed them Tuesday at McAfee's analyst conference in New York. "We've recently just OKed a project to build a very high-end enterprise product, a blade server approach to this problem," he said during a webcast of the event. McAfee already sells Web- and e-mail-filtering appliances called Secure Web Gateway and Secure Messaging Gateway, but these new products will be able to serve a much larger number of clients, McAfee said Wednesday, without disclosing specifics. McAfee CEO Dave DeWalt told analysts that the need for an enterprise-class offering was made clear to him in a recent customer meeting with Citigroup. "We didn't have the ability to cross-sell our network appliances very easily, at least not at the enterprise level," he said. The new products will ship into a marketplace that is in the throes of consolidation. DeWalt said that Web filtering vendorÂ Websense's recent purchase of SurfControlÂ also presented an opportunity for his company in the enterprise market. "It's going to take them seven plus months to bring those two companies together. We can completely disrupt that market," he said. The SurfControl acquisition is expected to close four months after final regulatory approval, which is still pending in the U.K. Another competitor in this space will be Cisco, which is on the verge of completing its $830 millionÂ acquisition of IronPort, a seller of Web- and e-mail-security appliances. McAfee is taking the opposite approach to its closest competitor Symantec, which last year shuttered most of its security appliance operation in order to focus on software development. Still, McAfee may find opportunities in this new sliver of the enterprise market, said Andrew Jaquith, an analyst with Yankee Group Research. "It's a good strategy to try and skim off some revenue that's being taken by others in this space," he said. "I don't see how it can hurt them."
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McAfee will acquire ScanAlert, a Web application security vendor, for $51 million, the companies announced Tuesday.ScanAlert, which was founded in 2001, runs a paid service that scans Web sites daily looking for security vulnerabilities and checks if e-commerce applications have up-to-date patches.McAfee said the business will be integrated into its Web Security Group, which develops McAfee&#39;s SiteAdvisor service. SiteAdvisor scans Web sites and scores them according to their risk, taking into account for example whether malicious software is hosted on the site. Consumers can download the SiteAdvisor toolbar that displays that ranking in a group of search results.Sites using ScanAlert&#39;s service display a logo that says &quot;Hacker Safe,&quot; which also appears on product listings on Web sites such as Yahoo&#39;s shopping channel and Pricegrabber.com. The service is aimed at increasing consumer confidence with e-commerce transactions, which have seen a rising level of fraud.SiteAdvisor, which is a free download for Internet Explorer and Firefox but also offers a paid version with more features, will eventually show the &quot;Hacker Safe&quot; logo in search results, McAfee said.ScanAlert said it has 8,000 customers that have more than 75,000 Web sites. Its clients include clothing retailer Guess, Toshiba and Warner Brothers. ScanAlert expects its booking revenue to be in the range of $15 million to $20 million this year.Earlier this month,&#160;McAfee splashed out $350 million for SafeBoot, a Dutch company specializing in encryption and access control.&#160;
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Security compliance play McAfee has agreed to buy a majority stake in security policy compliance firm Citadel Security in a deal valued at $60m. The deal is designed to bolster McAfee's capabilities in the area of policy enforcement and vulnerability remediation.â¦
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McAfee Inc.'s board of directors on Monday named former EMC Corp. executive Dave DeWalt as the security software company's chief executive officer and president.
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Goes mad for certifying Security firm McAfee has bought ScanAlert - the company behind the "HACKER SAFE" kitemark used to certify ecommerce websites.â¦
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Internet security company McAfee Inc. Monday said Stephen Richards, its chief operating officer and chief financial officer, will retire at the end of the year to spend time with his family.
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McAfee has taken two major steps toward closing the stock-option backdating scandal that has plagued the company for the past two years.On Friday, the security vendor filed 10 years&#39; worth of restated financial reports, a process that was set off by the scandal. The company also said it had reached a tentative settlement in a class-action lawsuit relating to its accounting practices.Charges for the restatement will be $137.4 million. McAfee has also set aside $13.8 million to cover lawsuits filed in 2006 on behalf of McAfee shareholders, the company said in a statement released on Friday.McAfee is one of more than 100 U.S. companies that have been investigated by the U.S. Securities and Exchange Commission (SEC) for improper backdating of options. In backdating, companies would alter the date that stock options grants were made to certain employees so they could be purchased at a lower price and ultimately sold by the employee at a greater profit. The practice, while not illegal, was often improperly disclosed in regulatory filings, leading to SEC investigations of many high-profile companies, including Apple, Dell and Broadcom.Earlier this year, McAfee&#39;s former legal counsel, Kent Roberts, was indicted on fraud charges related to the scandal.The restated reports cover the period from 1995 until the first quarter of McAfee&#39;s fiscal 2006 year. The company has also filed 10-Q reports for the first three quarters of its fiscal 2007 year, putting it up-to-date with the SEC for the first time since March 2006.
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The companies plan to share security features to help customers protect their networks from worms and viruses.
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McAfee has distanced itself from slurs against rival AV firm BitDefender contained in sponsored ad links on Google.com.
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3Com makes a play for security. But is it enough for investors?
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McAfee has taken two major steps toward closing the stock-option backdating scandal that has plagued the company for the past two years.
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McAfee on Monday announced an add-on to its enterprise anti-virus software that boosts spyware protection for businesses. Called McAfee Anti-Spyware Enterprise Edition Module, the add-on integrates with McAfee&#39;s
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McAfee this week plans to announce an add-on for its enterprise antivirus products to offer increased protection against spyware. Users of McAfee VirusScan Enterprise Edition versions 7.1 or 8.0i next month
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Vormetric&#39;s CoreGuard helps Ocwen protect confidential information in its online exchange for the mortgage industry. By Steven Marlin.
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Acquisition, which is worth $60 million, is designed to expand McAfee's efforts in the regulatory-compliance market.
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Security software firm McAfee has unveiled a new module for its virus-scan engine that is designed to help businesses fight spyware.