Netgear Acquires CP Secure

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CP Secure is a provider of integrated security solutions.

Netgear, Inc. announced the execution of a definitive agreement to acquire the assets of privately-held CP Secure, Inc.
Founded in 2002 and with an established engineering center in Nanjing, China, CP Secure is a provider of integrated security solutions that protect organizations from Internet-originated web and email based malware threats. Its CSG family of products delivers network protection, web filtering and email security in an easy-to-deploy, intuitive and feature-rich platform. CP Secure's patent-pending stream-based scanning technology enables real-time scanning of high-volume web and email traffic without degrading network performance, achieving up to five times better scanning performance than its competitors do.
Under the terms of the agreement, Netgear will pay $14.0 million in cash for CP Secure's assets. CP Secure will receive a total additional payout of up to $3.5 million in cash following closure of the acquisition if it achieves certain specified objectives. T

he acquisition is subject to various standard closing conditions and is expected to close in the fourth quarter. Following completion of the transaction, CP Secure's Chief Executive Officer, Shuang Ji, will become Netgear's Vice President of Engineering for security products.
"As SMBs increasingly rely on web 2.0 and email applications to conduct business with customers, partners, and vendors alike, SMBs are increasingly seeking effective and easy-to-administer integrated solutions to safeguard their networks and applications from Internet threats and ensure business continuity," said Patrick Lo, Chairman and CEO of Netgear. "CP Secure's offerings complement our current network security offerings, which include the Netgear ProSafe Wired and Wireless VPN Firewalls and Secure-Socket-Layer (SSL) VPN Concentrator. With an expanded security solution lineup that will incorporate CP Secure's integrated platform, we can provide organizations with robust, comprehensive, zero-hour protection