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8-K - 8-K - SOURCEFIRE INC | w81047e8vk.htm |
EX-99.2 - EX-99.2 - SOURCEFIRE INC | w81047exv99w2.htm |
EX-99.3 - EX-99.3 - SOURCEFIRE INC | w81047exv99w3.htm |
Exhibit 99.1
SOURCEFIRE ANNOUNCES ACQUISITION OF IMMUNET
Expands Cloud-based Security Infrastructure
Expands Cloud-based Security Infrastructure
Columbia, MD January 5, 2011 Sourcefire, Inc. (Nasdaq: FIRE), the creator of Snort® and
a leader in intelligent cybersecurity solutions, today announced the acquisition of Immunet, a
leading provider of advanced cloud-based anti-malware technologies. The acquisition expands
Sourcefires security solutions portfolio adding an advanced cloud platform for delivery of
malware protection and extending the companys real-time detection and prevention leadership to
the cloud.
Immunet combines the collective intelligence of a growing user community, the speed of cloud
computing, advanced data mining, and machine learning technologies to provide a groundbreaking
approach to cybersecurity. This acquisition immediately enables Sourcefire to provide endpoint
protection from client-side attacks and Advanced Persistent Threats (APT). The cloud-based platform
also enables innovative approaches to reputation services, data loss prevention and forensics.
Combined with Sourcefires next generation network intrusion prevention system (IPS), customers get
the most comprehensive protection against todays threats from cloud to core.
Immunet is a disruptive innovator in delivering cloud-based security solutions with over 750,000
users in 192 countries, said John Burris, CEO of Sourcefire. This acquisition enables Sourcefire
to accelerate our cloud initiatives and provides significant value to customers by protecting them
against advanced client-side attacks. Immunets technologies build upon Sourcefires reputation
for providing customers with innovative solutions that protect them from the latest threats.
Sourcefire will retain all fulltime Immunet personnel, including founders Oliver Friedrichs, Alfred
Huger and Adam ODonnell. Immunet employees will join Sourcefire within the Office of the CTO.
Sourcefire is the perfect company to accelerate Immunets path to market, said Oliver Friedrichs,
Immunet Founder and CEO. Sourcefire secures organizations and individuals worldwide with advanced
network security technology. Adding an internet-scale, advanced cloud platform catapults Sourcefire
into a leadership position in endpoint protection as well.
The addition of Immunet further builds Sourcefires position as a leading provider of intelligent
cybersecurity solutions, following its Next-Generation Intrusion Prevention System (NGIPS),
Next-Generation Firewall (NGFW) and Razorback announcements in 2010.
Financial Overview of Transaction
The total acquisition price is $21 million in cash, which included $17 million paid at closing and
$4 million expected to be paid over the next 18 months upon achievement of product delivery
milestones related to the enterprise version of Immunets product.
Immunet has a subscription-based business model and is expected to grow bookings at a rapid pace in
2011, though its contribution to revenue is expected to be minimal over the same time
period. With expenses being recognized on an as incurred basis, Sourcefire currently expects
Immunet to be dilutive to 2011 adjusted net income per diluted share by approximately $0.10.
Adjusted net income per share is a non-GAAP financial measure and excludes stock-based compensation
expense and amortization of acquisition intangibles and assumes an effective tax rate of 35%. The
acquisition is expected to be at least neutral to adjusted net income per diluted share in 2012 and
accretive thereafter. Sourcefire plans to provide information on the expected impact on GAAP net
income per diluted share after it has completed the valuation analysis related to the
acquisition.
Conference Call and Webcast
On Wednesday, January 5, 2011 at 5:00 p.m. Eastern Time, Sourcefire will host a conference call to
discuss the acquisition of Immunet, preliminary fourth quarter results and initial 2011 outlook. A
listen-only web cast of the session and a presentation will be available at
http://investor.sourcefire.com. Those wishing to participate in the live session should use the
following numbers to dial in:
Calling from the United States or Canada: 800-510-9834
Calling from other countries: 617-614-3669
Calling from other countries: 617-614-3669
Pass code: 90680366
An online replay will be available at http://investor.sourcefire.com following the completion of
the live call and will remain available for at least 90 days.
About Sourcefire
Sourcefire, Inc. (Nasdaq:FIRE), is a world leader in intelligent cybersecurity solutions.
Sourcefire is transforming the way Global 2000 organizations and government agencies manage and
minimize network security risks. Sourcefires IPS, Real-time Network Awareness and Real-time
Adaptive Security solutions equip customers with an efficient and effective layered security
defense protecting network assets before, during and after an attack. Through the years,
Sourcefire has been consistently recognized for its innovation and industry leadership by
customers, media and industry analysts alike with more than 50 awards and accolades. Today, the
name Sourcefire has grown synonymous with innovation and network security intelligence. For more
information about Sourcefire, please visit
http://www.sourcefire.com.
SOURCEFIRE®, Sourcefire IPS, SNORT®, RAZORBACK, the Sourcefire logo, the Snort and Pig logo,
SECURITY FOR THE REAL WORLD, SOURCEFIRE DEFENSE CENTER®, SOURCEFIRE 3D®, RNA®, RUA®,
DAEMONLOGGER, CLAMAV® and certain other trademarks and logos are trademarks or registered
trademarks of Sourcefire, Inc. in the United States and other countries. Other company, product and
service names may be trademarks or service marks of others.
About Immunet
Immunet was founded in July 2008 by AntiVirus industry veterans to address a sweeping shift in the Internet threat landscape. Immunet utilizes the latest advances in computing, including cloud computing, collective intelligence, data mining and machine learning. Immunet Protect 2.0 is a
Immunet was founded in July 2008 by AntiVirus industry veterans to address a sweeping shift in the Internet threat landscape. Immunet utilizes the latest advances in computing, including cloud computing, collective intelligence, data mining and machine learning. Immunet Protect 2.0 is a
free Cloud Antivirus download that provides real-time protection from over 14 million threats
daily. www.immunet.com, follow Twitter @immunet or visit the Immunet Facebook Fan Page.
Cautionary Language Concerning Forward-Looking Statements
The statements in this press release that are not historical facts are forward-looking
statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) that
involve risks and uncertainties. Management cautions the reader that these forward-looking
statements are only predictions and are subject to a number of both known and unknown risks and
uncertainties, and actual results, performance, and/or achievements of Sourcefire, Inc. may differ
materially from the future results, performance, and/or achievements expressed or implied by these
forward-looking statements as a result of a number of factors. These factors include, without
limitation, the risks that we will not be able to successfully integrate the acquisition into our
business or that we will not otherwise achieve the anticipated benefits of the transaction, and
also include, without limitation, those risks and uncertainties described from time to time in the
reports filed by Sourcefire, Inc. with the U.S. Securities and Exchange Commission. Sourcefire,
Inc. undertakes no obligation to update any forward-looking statements.
Media Contacts
Tony Welz
|
Gena Fiegel | |
Principal
|
Director, Marketing Communications | |
Welz & Weisel Communications
|
Sourcefire, Inc. | |
703.218.3555 x226
|
443.430.7039 | |
tony@w2comm.com
|
gfiegel@sourcefire.com |
Investor Contact
Staci Mortenson
ICR, Inc
203-682-8273
Staci.mortenson@icrinc.com
ICR, Inc
203-682-8273
Staci.mortenson@icrinc.com