CyberGuard Makes Offer For Secure ComputingCyberGuard Makes Offer For Secure Computing

Network security vendor CyberGuard Corp. said Monday it has made an offer to acquire Secure Computing Corp.

The acquisition will be a one-for-one stock exchange based on the companies' July 9 closing stock price, CyberGuard said in a statement. According to the statement, the swap would represent a 22% premium for each Secure Computing share. The deal will be valued at just under $300 million.

Secure Computing manufactures a line of high-end firewall information-security appliances and authentication and Web-filtering products.

The acquisition would be CyberGuard's fourth in about a year. Last year, CyberGaurd acquired NetOctave, a maker of security chips and VPN accelerator hardware, and SnapGear, which made embedded Linux and VPN/firewall appliances. Most recently, CyberGuard acquired PC security vendor Webwasher Software, most known for its Windows-based content security software.

Secure Computing provides numerous information security applications, including identity-management and authentication software and hardware, firewalls, and VPN gateways.