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