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
How Secure Is Your School Campus Network?

How Secure Is Your School Campus Network?

School Networks School related networks are one of the most attacked sectors today, coming in third worldwide to healthcare and retail. Because of the ever growing threat of cybercrime, IT professionals everywhere aren’t thinking in terms of “what if our network gets attacked?” Now, they think in terms of “when will our network be attacked?”…

IBM and VMware Expand Partnership to Enable Easy Hybrid Cloud Adoption

IBM and VMware Expand Partnership to Enable Easy Hybrid Cloud Adoption

IBM and VMware Expand Partnership More than 500 new clients, including Marriott International are now running VMware software on IBM Cloud since the strategic cloud partnership was announced;Introduction of VMware Cloud Foundation on IBM Cloud helps move existing apps to the cloud within hours; More than 4,000 IBM service professionals trained to help organizations extend…

Fully Autonomous Cars: How’s It REALLY Going To Work?

Fully Autonomous Cars: How’s It REALLY Going To Work?

Pros and Cons and What the Experts Think Science fiction meets reality, and modern civilization is excitedly looking forward to the ubiquity of self-driving cars. However, an omnipresence of fully autonomous cars won’t happen as quickly as even some hopeful experts anticipate. While the autonomous car pros versus the cons race (See infographic discovered via…

The Lighter Side Of The Cloud – Bottlenecking

The Lighter Side Of The Cloud – Bottlenecking

By David Fletcher Please feel free to share our comics via social media networks such as Twitter, Facebook, LinkedIn, Instagram, Pinterest. Clear attribution (Twitter example: via @cloudtweaks) to our original comic sources is greatly appreciated.

Recent Articles - Posted by
Cloud-based GRC Intelligence Supports Better Business Performance

Cloud-based GRC Intelligence Supports Better Business Performance

Cloud-based GRC Intelligence All businesses need a strategy and processes for governance, risk and compliance (GRC). Many still view GRC activity as a burdensome ‘must-do,’ approaching it reactively and managing it with non-specialized tools. GRC is a necessary business endeavor but it can be elevated from a cost drain to a value-add activity. By integrating…

Maintaining Network Performance And Security In Hybrid Cloud Environments

Maintaining Network Performance And Security In Hybrid Cloud Environments

Hybrid Cloud Environments After several years of steady cloud adoption in the enterprise, an interesting trend has emerged: More companies are retaining their existing, on-premise IT infrastructures while also embracing the latest cloud technologies. In fact, IDC predicts markets for such hybrid cloud environments will grow from the over $25 billion global market we saw…

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…

Don’t Be Intimidated By Data Governance

Don’t Be Intimidated By Data Governance

Data Governance Data governance, the understanding of the raw data of an organization is an area IT departments have historically viewed as a lose-lose proposition. Not doing anything means organizations run the risk of data loss, data breaches and data anarchy – no control, no oversight – the Wild West with IT is just hoping…

Ending The Great Enterprise Disconnect

Ending The Great Enterprise Disconnect

Five Requirements for Supporting a Connected Workforce It used to be that enterprises dictated how workers spent their day: stuck in a cubicle, tied to an enterprise-mandated computer, an enterprise-mandated desk phone with mysterious buttons, and perhaps an enterprise-mandated mobile phone if they traveled. All that is history. Today, a modern workforce is dictating how…

5 Ways The Internet of Things Will Drive Cloud Growth

5 Ways The Internet of Things Will Drive Cloud Growth

5 Ways The Internet of Things Will Drive Cloud Growth The Internet of Things is the latest term to describe the interconnectivity of all our devices and home appliances. The goal of the internet of things is to create universal applications that are connected to all of the lights, TVs, door locks, air conditioning, and…

Teach Yourself The Cloud: Cloud Computing Knowledge In 5 Easy Steps

Teach Yourself The Cloud: Cloud Computing Knowledge In 5 Easy Steps

Teach Yourself The Cloud Learn how to get to grips with cloud computing in business  Struggling to get your head around the Cloud? Here are five easy ways you can improve your cloud knowledge and perhaps even introduce cloud systems into your business.  Any new technology can appear daunting, and cloud computing is no exception.…

Cloud Computing Offers Key Benefits For Small, Medium Businesses

Cloud Computing Offers Key Benefits For Small, Medium Businesses

Cloud Computing Benefits A growing number of small and medium businesses in the United States rely on as a means of deploying mission-critical software products. Prior to the advent of cloud-based products — software solutions delivered over the Internet – companies were often forced to invest in servers and other products to run software and…

Moving Your Enterprise Apps To The Cloud Is A Business Decision

Moving Your Enterprise Apps To The Cloud Is A Business Decision

Moving Your Enterprise Apps Whether it be enterprise apps or any other, if there is any heavy data that is going to be transacted in and through an app, then affiliating it with the Cloud becomes a must. And then an important question arises: How do you decide when to integrate your enterprise app with…

What Top SaaS Vendors Do To Ensure Successful Onboarding

What Top SaaS Vendors Do To Ensure Successful Onboarding

What Top SaaS Vendors Do I am not going to mention names in this article, but if you want to be the best, you must look at what the best do – and do it better. The importance of investing in SaaS onboarding can be easily overlooked in favor of designing efficient and powerful software…

The Monstrous IoT Connected Cloud Market

The Monstrous IoT Connected Cloud Market

What’s Missing in the IoT? While the Internet of Things has become a popular concept among tech crowds, the consumer IoT remains fragmented. Top companies continue to battle to decide who will be the epicenter of the smart home of the future, creating separate ecosystems (like the iOS and Android smartphone market) in their wake.…