NETGEAR has announced the execution of a definitive agreement to acquire the assets of privately-held CP Secure, Inc.
 
Founded in 2002 and with an established engineering center in Nanjing, China, CP Secure is a leading provider of integrated security solutions that protect organizations from Internet-originated web and email based malware threats. Its CSG family of products delivers network protection, web filtering and email security in an easy-to-deploy, intuitive and feature-rich platform. CP Secure’s patent-pending stream-based scanning technology enables real-time scanning of high-volume web and email traffic without degrading network performance, achieving up to five times better scanning performance than its competitors.
 
Under the terms of the agreement, NETGEAR will pay $14.0 million in cash for CP Secure’s assets. CP Secure will receive a total additional payout of up to $3.5 million in cash following closure of the acquisition if it achieves certain specified objectives.  The acquisition is subject to various standard closing conditions and is expected to close in the fourth quarter.  Following completion of the transaction, CP Secure’s Chief Executive Officer, Shuang Ji, will become NETGEAR’s Vice President of Engineering for security products.
 
 
Under the terms of the transaction, NETGEAR is acquiring a select team of CP Secure employees, including its Nanjing engineering center with over 40 engineering professionals, its pending patents, proprietary technologies, customer base, current products, and products in development. NETGEAR intends to release a full line of NETGEAR ProSecure security appliances for web, email and unified threat management incorporating CP Secure’s platform within the next 12 months.

The addition of CP Secure’s seasoned engineering team forms a dedicated, world-class group focused on hardware, software, and technology for network security appliances.
 

Renu/ITvoir Network