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寄件者: Sofia Despotidou (MKT-EMEA-SMB)
傳送日期: Monday, August 02, 2010 7:14:37 PM
收件者: Newsbank
主旨: RE: Newsbank - McAfee to acquire tenCube and earnings
自動依照規則轉寄
Digital security major McAfee has reached an agreement to acquire tenCube, which provides WaveSecure mobile security and phone backup services. The acquisition is expected to expected to close by August 30th 2010, and the financial details of the deal have not been disclosed. WaveSecure has around 26 employees and contractors, and is deployed for over 500,000 users, in partnership with Singapore Telecom and Nokia India.
This acquisition comes just five months after mobile VAS company One97 Communications took a minority stake in WaveSecure – for below Rs. 10 crore, for less than 25 percent stake. WaveSecure had only been recently moved to the One97 Mobility Fund, so this is its first exit. Speaking with MediaNama, One97 Communications MD Vijay Shekhar Sharma said that he doesn’t view this as an exit, saying that “The decision was taken by the TenCube founding team, and we were supportive of the decision. Security on mobile phones is a hot area and WaveSecure is a product that can’t be replicated in a couple of months.” But wasn’t the sale too soon? “The right timing is as important as the right product, ” he says. Sharma adds that the company made “many 3-digits percentage” in returns over and above their investment. As a business, One97 will continue to deploy the product in India.
WaveSecure & McAfee
The WaveSecure acquisition helps McAfee expand its mobile security portfolio beyond “anti-malware, data protection, Web security and family protection”, as well as expand its addressable device base to “Android, Blackberry, Symbian, Windows Mobile, iPhone and Java powered phones.” Competitors Symantec and F-Secure only support Android, and Kaspersky only supports Symbian and Windows Mobile; Symantec has a competing product in beta, and Kaspersky and F-Secure don’t offer online access.
WaveSecure’s technology allows users to control their mobile phones – back-up and remotely locate, lock and wipe the device and memory cards, if the phone is lost or stolen; the phone automatically goes into lock-down mode if it is used with an un-authorized wireless account and inform a user’s emergency contact of its location. WaveSecure locked phones show a permanent message on the screen explaining how to return the phone to its owner.
McAfee intends to add this to its enterprise and consumer services. The opportunity, according to McAfee – people today are 15 times more likely to lose their phones than their laptop. McAfee also plans to offer a child locator service, using the unique technology from WaveSecure. McAfee also intends to expand the language portfolio of the WaveSecure service beyond English, Chinese and Indonesian.
From: Roger Knott (MKT-US)
Sent: 29 July 2010 23:18
To: Newsbank
Subject: Newsbank - McAfee to acquire tenCube and earnings
http://www.mercurynews.com/breaking-news/ci_15632779?nclick_check=1
McAfee to acquire tenCube, reports increased profit, sales
Posted: 07/29/2010 02:10:41 PM PDT
McAfee, the Santa Clara maker of security software, this afternoon said it would buy Singapore-based mobile security service provider tenCube. Terms weren't disclosed.
McAfee also reported a $39.4 million profit for its most recent quarter, up 38 percent from a year earlier. Second-quarter revenue jumped 4 percent to $489.2 million.
According to Bloomberg News, McAfee's sales came in under Wall Street analysts' average estimate of $507 million.
CEO Dave DeWalt blamed "foreign currency headwinds" for the lower-than-expected revenue, but said McAfee had "strong operating cash flow, coupled with solid consumer and corporate bookings" during the quarter.
McAfee expects the tenCube acquisition to close next month. According to a company statement, the deal gives McAfee "a single platform, from the consumer to the enterprise, to address the management and security of all device types."
Before the announcements, McAfee stock closed at $30.25, down 87 cents, or 2.8 percent. The shares were up slightly in after-hours trading.
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