McAfee offers to buy Finland's Stonesoft for $389 million

HELSINKI Mon May 6, 2013 2:55am EDT

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HELSINKI (Reuters) - Intel Corp's (INTC.O) security software division McAfee said it plans to buy Finland's network firewall maker Stonesoft Oyj SFT1V.HE for around $389 million in cash, a 128 percent premium to the company's stock market value at Friday's close.

The move comes as a slump in the PC industry hurts security software sales. Microsoft Corp's (MSFT.O) Windows 8, launched in late October, was bundled with free anti-virus software - another blow for the industry.

The tender offer for Stonesoft shares was 4.50 euros per share, compared with their closing price on Friday of 1.97 euros. ($1 = 0.7624 euros)

(Reporting by Ritsuko Ando; Editing by David Holmes)