[June 02, 2005] McAfee, Inc. Acquires Wireless Security Corp. Tweet NEW YORK, Analyst Day, June 2 /PRNewswire-FirstCall/ -- McAfee, Inc. , the leader in Intrusion Prevention and Security Risk Management solutions, today announced the acquisition of Wireless Security Corp. Wireless Security Corp. is a privately held company that offers innovative Wi-Fi security solutions to protect home and small business wireless networks from unauthorized access to a wireless network, its contents, or Internet service. When bundled with McAfee's proven security solutions, McAfee(R) Internet Security Suite, McAfee(R) VirusScan(R), and McAfee(R) Personal Firewall, home and small business users are also protected from malicious code and other Internet threats. Under the terms of the agreement, McAfee has acquired all the outstanding stock of Wireless Security Corp., including all associated technologies and assets. With Wi-Fi technology, data is transmitted by radio waves, leaving no boundaries. While this has become a valuable and convenient tool for users, it opens new doors for security threats and requires specialized technology to ensure protection. The Wireless Security Corp. solutions are cost-effective and easy to use, utilizing patent-pending technology that employs strong industry standard encryption and authentication with intrusion detection technology. The solutions enable users to enjoy the benefits of wireless networking technology, without the concern that their confidential data could be accessed or their wireless network could be shut down by a malicious code attack or vulnerability. "McAfee is committed to providing innovative, comprehensive solutions that protect customers from security threats at all access points," said George Samenuk, chairman and chief executive officer of McAfee, Inc. "The world we live in has become increasingly wireless, yet most users do not have the proper security enabled and additional protection installed to secure their wireless networks. This acquisition builds on our existing security technology and enables us to further protect the growing wireless environment." According to industry analyst firm IDC, the worldwide adoption of wireless access points will grow at a 36% compound annual growth rate (CAGR) over the next four years. There are several converging factors contributing to the rapid proliferation of wireless home networks, including a higher share of households with multiple computers, increased broadband penetration and more users adopting notebook computers rather than desktops. Based on internal McAfee testing of more than 60,000 opt-in wireless networks, 47.9% were unprotected. Before the test was run, McAfee asked users if security was turned on, of the respondents, 51.4% said yes, yet McAfee found that 20% of those that said yes in actuality had no security turned on. The Wireless Security Corp. technology supports WEP and WPA-PSK and virtually 100% of network cards. Additionally it supports the most popular routers from the largest vendors such as Linksys, D-Link, and Netgear, along with support for some devices from Buffalo, Belkin, Proxim, ZyXEL and 3COM. The technology will be developed by McAfee with plans for a fall consumer product launch. Additionally, the company will integrate the technology into the small business Managed VirusScan solution to provide comprehensive protection for the business user that is automatically delivered and managed to protect against evolving threats. About McAfee, Inc. McAfee, Inc., headquartered in Santa Clara California, and the global leader in Intrusion Prevention and Security Risk Management, delivers proactive and proven solutions and services that secure systems and networks around the world. With its unmatched security expertise and commitment to innovation, McAfee empowers home users, businesses, the public sector, and service providers with the ability to block attacks, prevent disruptions, and continuously track and improve their security. http://www.mcafee.com/. NOTE: McAfee and VirusScan are registered trademarks or trademarks of McAfee, Inc. and/or its affiliates in the US and/or other countries. The color red in connection with security is distinctive of McAfee brand products. All other registered and unregistered trademarks herein are the sole property of their respective owners. Forward Looking Statements The foregoing contains forward-looking statements including those regarding anticipated product development, product availability and integration efforts. Actual results may vary, perhaps materially, from those contained in the forward-looking statements and the expected results may not occur. For example, McAfee may not be able to successfully develop and release products utilizing Wireless Security Corp. technology; or integrate Wireless Security Corp. products' on the anticipated time line or at all and Wireless Security Corp.'s technology once integrated with McAfee's other products may not perform as anticipated. More information on risks and uncertainties related to McAfee and its business may be found in the company's quarterly and annual reports filed with the United States Securities and Exchange Commission. Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20040426/MCAFEELOGOAP Archive: http://photoarchive.ap.org/PRN Photo Desk, [email protected] McAfee, Inc. CONTACT: media, Dana Lengkeek, +1-408-346-5184, or investors,Kelly Blough, +1-408-346-3481, both of McAfee, Inc. Web site: http://www.mcafee.com/ [ Back To TMCnet.com's Homepage ]