Sourcefire Aquisition – Now competitor in the cloud based anti-virus market

Sourcefire Acquires Cloud-based Anti-virus Maker Immunet for USD 21 Million

Cybersecurity solutions provider Sourcefire has acquired Immunet, a cloud-based anti-virus start-up, in a deal worth USD 21 million, the two companies said in a press release. Massachusetts-based Sourcefire is to pay initial USD 17 million in cash while the rest of the sum will be paid within 18 months following continuing development of enterprise version of Immunet’s product. Immunet’s founders Oliver Friedrichs, Alfred Huger and Adam O’Donnell are expected to retain their positions with the company.

Immunet utilizes its Collective Immunity™ technology that does not require downloads to fight viruses and malware attacking computer systems worldwide and employed about 10 people prior to the acquisition. In the past, Altos Ventures and TechOperators invested USD 2 million in the company while a number of individual angel investors also arranged funding for Immunet.

“The next year (2011, editor’s note) will be very exciting – Sourcefire is committed to fully supporting Immunet products moving forward (Immunet Protect Free and Immunet Protect Plus), and we, as the newly formed Cloud Technology Group, within Sourcefire will be there to do it.  We’ll be the same team, just in a larger company.” Oliver Friedrichs, founder of Immunet, said in a blog post on the company’s website.

At present, some 750,000 users in 192 countries take advantage of Immunet’s cloud-based anti-virus solutions and Sourcefire’s CEO John Burris insisted that the deal will put Sourcefire in a position to compete with traditional anti-virus and anti-malware vendors like Symantec, McAfee, Avira and AVG. The acquisition of Immunet will allow Sourcefire to leave anti-virus signatures in the cloud utilizing threat information-sharing platform based on Sourcefire’s Snor product, Clam A/V and Sourcefire’s Razorback project, Martin Roesch, Sourcefire founder, added.

It is unclear whether Sourcefire will bet on Immunet’s free anti-virus or will develop a new paid version of the product. At present, Immunet offers free and paid versions of the cloud-based anti-virus software called Immunet Protect Free and Immunet Protect Plus, respectively. However the number of paid subscribers is not significant, Burris admitted without elaborating. An enterprise version of the product is expected in late 2011, Greg Fitzgerald, senior vice president of Sourcefire, added.

Immunet’s product does not require virus updates due to its cloud-based technology providing real-time scanning for viruses. Immunet Protect is also compatible with other anti-virus products installed on end-user machines. The company was founded in 2008 by Oliver Friedrichs who has amazing experience in acquisitions of software start-ups by well-established companies. He was co-founder of SecurityFocus which was acquired by Symantec in 2002 and co-founded Secure Networks, a start-up acquired by McAfee in 1998.

Sourcefire acquisition appetite was encouraged by the highest revenue in its corporate history posted in the third quarter of 2010. Revenues stood at USD 36.2 million in the third quarter of 2010 compared to USD 27.4 a year ago, while in the first nine months of 2010 the company’s revenues grew to USD 92.6 million compared to USD 68.2 million for the same period of 2009, a company’s statement reads. The company’s cash, cash equivalents and investments totaled USD 142.6 million as of September 30, 2010.

The company expects to post revenue in the range of USD $129.6 million to USD 131.1 million for the whole fiscal 2010, while expecting net income per share in the range of USD 0.67 to USD 0.69 and adjusted net income per share in the range of USD 0.52 to USD 0.54. Market analysts reacted with caution to the news for the acquisition of Immunet by Sourcefire and most experts are recommending “hold” for Sourcefire’s stock.

By Kiril Kirilov

Sorry, comments are closed for this post.

Comic
When Sci-Fi Predictions Come To Fruition

When Sci-Fi Predictions Come To Fruition

Evolution of Technologies To paraphrase science fiction author Arthur C. Clark, those who make predictions about the future are either “considered conservative now and mocked later, or mocked now and proved right when they are no longer around to enjoy the acclaim.” The one thing we can be sure about, Clark ventured, is that “[the…

Facebook Hopes To Extend Internet Connectivity With Solar-Powered Drones

Facebook Hopes To Extend Internet Connectivity With Solar-Powered Drones

Facebook Inc (FB.O) said on Thursday it had completed a successful test flight of a solar-powered drone that it hopes will help it extend internet connectivity to every corner of the planet. Aquila, Facebook’s lightweight, high-altitude aircraft, flew at a few thousand feet for 96 minutes in Yuma, Arizona, Chief Executive Mark Zuckerberg wrote in…

When Will Women In Tech Become The Norm?

When Will Women In Tech Become The Norm?

Tech Diversity It is well known that the technology industry has been dominated by men, but it is also clear that the industry is working to change that. Diversity in the tech industry, especially where it applies to women in tech, has been a topic of discussion for years. Recently the Washington Technology Industry Association…

Four Keys For Telecoms Competing In A Digital World

Four Keys For Telecoms Competing In A Digital World

Competing in a Digital World Telecoms, otherwise largely known as Communications Service Providers (CSPs), have traditionally made the lion’s share of their revenue from providing pipes and infrastructure. Now CSPs face increased competition, not so much from each other, but with digital service providers (DSPs) like Netflix, Google, Amazon, Facebook, and Apple, all of whom…

Edtech and Virtual Reality – Exciting Learning Environment

Edtech and Virtual Reality – Exciting Learning Environment

Customizing Edutech Customized edtech learning solutions are becoming more commonplace as the education industry recognises their potential and begins transforming the traditional structures so as to incorporate innovative developments. From textbooks to tablets, chalkboards to virtual reality, edtech promises not only dynamic and exciting learning environments but better learning strategies and solutions. Virtual Reality and…

Connecting With Customers In The Cloud

Connecting With Customers In The Cloud

Customers in the Cloud Global enterprises in every industry are increasingly turning to cloud-based innovators like Salesforce, ServiceNow, WorkDay and Aria, to handle critical systems like billing, IT services, HCM and CRM. One need look no further than Salesforce’s and Amazon’s most recent earnings report, to see this indeed is not a passing fad, but…

Adopting A Cohesive GRC Mindset For Cloud Security

Adopting A Cohesive GRC Mindset For Cloud Security

Cloud Security Mindset Businesses are becoming wise to the compelling benefits of cloud computing. When adopting cloud, they need a high level of confidence in how it will be risk-managed and controlled, to preserve the security of their information and integrity of their operations. Cloud implementation is sometimes built up over time in a business,…

5 Ways To Ensure Your Cloud Solution Is Always Operational

5 Ways To Ensure Your Cloud Solution Is Always Operational

Ensure Your Cloud Is Always Operational We have become so accustomed to being online that we take for granted the technological advances that enable us to have instant access to everything and anything on the internet, wherever we are. In fact, it would likely be a little disconcerting if we really mapped out all that…

Get Ready For Virtual Reality and the Cloud

Get Ready For Virtual Reality and the Cloud

Virtual Reality Cloud We’re lucky to live in an era where virtual reality is no longer relegated to the confines of a sci-fi movie universe. Thanks to technology introduced by products like Oculus Rift, consumers now have access to virtual environments with fully immersive graphic capabilities. As a result, companies have only just begun to…

Despite Record Breaches, Secure Third Party Access Still Not An IT Priority

Despite Record Breaches, Secure Third Party Access Still Not An IT Priority

Secure Third Party Access Still Not An IT Priority Research has revealed that third parties cause 63 percent of all data breaches. From HVAC contractors, to IT consultants, to supply chain analysts and beyond, the threats posed by third parties are real and growing. Deloitte, in its Global Survey 2016 of third party risk, reported…

The Cloud Above Our Home

The Cloud Above Our Home

Our Home – Moving All Things Into The Cloud The promise of a smart home had excited the imagination of the movie makers long ago. If you have seen any TV shows in the nineties or before, the interpretation presented itself to us as a computerized personal assistant or a robot housekeeper. It was smart,…

Cloud Infographic – Disaster Recovery

Cloud Infographic – Disaster Recovery

Disaster Recovery Business downtime can be detrimental without a proper disaster recovery plan in place. Only 6% of businesses that experience downtime without a plan will survive long term. Less than half of all businesses that experience a disaster are likely to reopen their doors. There are many causes of data loss and downtime —…

Infographic: IoT Programming Essential Job Skills

Infographic: IoT Programming Essential Job Skills

Learning To Code As many readers may or may not know we cover a fair number of topics surrounding new technologies such as Big data, Cloud computing , IoT and one of the most critical areas at the moment – Information Security. The trends continue to dictate that there is a huge shortage of unfilled…

Disaster Recovery – A Thing Of The Past!

Disaster Recovery – A Thing Of The Past!

Disaster Recovery  Ok, ok – I understand most of you are saying disaster recovery (DR) is still a critical aspect of running any type of operations. After all – we need to secure our future operations in case of disaster. Sure – that is still the case but things are changing – fast. There are…

Will Your Internet of Things Device Testify Against You?

Will Your Internet of Things Device Testify Against You?

Will Your Internet of Things Device Testify Imagine this:  Your wearable device is subpoenaed to testify against you.  You were driving when you were over the legal alcohol limit and data from a smart Breathalyzer device is used against you. Some might argue that such a use case could potentially safeguard society. However, it poses…

SaaS And The Cloud Are Still Going Strong

SaaS And The Cloud Are Still Going Strong

SaaS And The Cloud With the results of Cisco Global Could Index: 2013-2018 and Hosting and Cloud Study 2014, predictions for the future of cloud computing are notable. Forbes reported that spending on infrastructure-related services has increased as public cloud computing uptake spreads, and reflected on Gartner’s Public Cloud Services Forecast. The public cloud service…