News : McAfee to pay $465 million for Secure Computing

BOSTON (Reuters) - McAfee Inc (MFE.N: Quote, Profile, Research, Stock Buzz), the world's No. 2 security software maker, said on Monday it plans to buy Internet security company Secure Computing Corp (SCUR.O: Quote, Profile, Research, Stock Buzz) for $465 million in cash.

The move gives McAfee a suite of software, services and hardware products to protect hackers from getting past the perimeters of computer networks.

McAfee is already the No. 2 provider of anti-virus software. Symantec Corp (SYMC.O: Quote, Profile, Research, Stock Buzz) is the largest.

Santa Clara, California-based McAfee will pay $5.75 per share of Secure Computing's common stock, representing a 27 percent premium to the San Jose, California company's closing price of $4.52 on Friday.

Secure Computing shares were quoted at $5.59 in pre-market trade.

The companies expect the transaction to close at the end of the fourth quarter of this year.

(Reporting by Jim Finkle; Editing by Derek Caney)