McAfee to Buy SolidCore Systems for $33 Million
McAfee announced Friday it will buy privately held SolidCore Systems Inc, a maker of software to protect automated bank tellers and other specialized computers.
The software maker announced the acquisition as executives met with analysts in New York in presentations that were broadcast over the Internet.
Chief Executive Dave DeWalt gave an advance view of the company's financial outlook Thursday in an interview with Reuters, saying that business had improved in May from April.
"We think everything's steadily improved. That's encouraging," said DeWalt ahead of the Reuters Global Technology Summit next week.
The acquisition of Cupertino, California-based SolidCore will add products that help companies protect ATMs, cash registers and other point-of-sale systems used by retailers, multifunction printers and other specialized computer devices.
SolidCore's products are used by more than 100 financial institutions and in more than 15,000 retail stores, McAfee said.
DeWalt told investors Friday that he will continue to look to make "small- and medium-sized acquisitions of products that we can cross-sell with existing products."
McAfee said it expects the acquisition of SolidCore to be slightly dilutive to profit, excluding items, in the current quarter, ending June 30, which is when it expects the deal to close.
(Reporting by Jim Finkle; Editing by Brian Moss)
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