Cisco to acquire security vendor Sourcefire for $2.7 billion

Sourcefire will give Cisco 'deep security DNA,' according to the announcement

Cisco is set to expand its security software portfolio with the acquisition of Sourcefire in a deal worth US$2.7 billion.

The combined company will offer a product set that provides "advanced threat protection across the entire attack continuum -- before, during and after an attack -- and from any device to any cloud," Cisco said Tuesday.

Both companies' boards have approved the acquisition, which is expected to close later this year, according to Cisco's announcement.

Sourcefire has about 650 employees and reported $223.1 million in revenue during 2012. It sells products for network security and malware protection and also offers IPS (intrusion prevention systems) appliances.

The pending acquisition follows Cisco's purchase earlier this year of Cognitive Security, maker of software that employs artificial intelligence to spot threats.

Cisco and Sourcefire executives are expected to discuss the deal further during a conference call on Tuesday.

(More to follow.)

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