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F5 on MagniFire
Consolidation continues among security IT vendors as F5 Networks (Nasdaq: FFIV), today announced it has acquired MagniFire for $29 million in cash.
MagniFire is a prominent vendor of web application firewalls. The transaction is F5's second purchase this year, having last July bought for $25 million uRoam for its secure remote access product, FirePass.
So for F5, these deals strengthen its collection of network intrusion solutions. Intrusion protection system ("IPS") products have been the object of vigorous M&A activity of late, with Network Associatesí buys of both Entercept and Intruvert, and Ciscoís purchase of Okena. See our April blurb on these deals.
Seattle-based F5 has 550 employees (with MagniFIre adding 20 more), and generated 2003 revenues of $36 million.
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