Secure Computing snaps up CyberGuard for $295m

The consolidation of the IT security industry is continuing apace, with Secure Computing’s announcement today that it has bought CyberGuard for $295m.

Both companies have concentrated on the firewall and content monitoring side of the IT security market, and Secure Computing hopes to save money by absorbing CyberGuard's business while benefiting from economies of scale.

"This transaction meets important strategic priorities and better positions Secure Computing in two of the fastest growing markets of the security industry, " said John McNulty, chairman of Secure Computing.

"By combining the companies, Secure Computing will be the leader in the Unified Threat Management market, the fastest growing segment of the IT security market according to IDC."

The announcement comes after last week's news that Symantec, one of the largest players in the field, had bought Sygate. In the last year Symantec also bought TurnTide, Brightmail, On Technology, SafeWeb, and storage software maker Veritas.