GFI Buys Sunbelt Software for Anti-malware Technology
GFI Software announced July 13 that it has acquired security vendor Sunbelt Software in a move to expand its security offerings.
GFI offers security, backup and archiving products for small and midsize enterprises. In particular, the company said it wanted to get its hands on Sunbelt's VIPRE anti-malware technology, which it said will allow GFI to offer its own "established antivirus product."
"Over the past several years, we have looked extensively for the best technologies, the best developers and the best management teams that will allow us to expand our current product offerings and to provide the best service we can to our customer base," GFI CEO Walter Scott said in a statement. "We were impressed by the high quality and innovative technology that underlies Sunbelt's VIPRE line of products and immediately saw strong synergies between the two companies. We have acquired a good, growing and cash-flow-positive business that fits well within GFI's strategic vision [of consolidating] our products and [growing] our business."
The terms of the deal were not disclosed, but GFI said, "The assets of Sunbelt's software distribution business ... will be divested into a separate entity." Based in Clearwater, Fla., Sunbelt was founded in 1994.
"The technologies developed by both companies are highly complementary and I have a hard time imagining a better combination," Sunbelt CEO Alex Eckelberry said in a statement.