Secure Computing Buys Securify; VCs Take a Hit
Secure Computing (SCUR) announced a deal this afternoon to acquire privately held Securify for $15 million, plus an earn-out of up to $5 million more. Secure can pay for the deal in cash, or at its choosing, partially in stock. The deal is expected to close in the fourth quarter.
Securify, based in Cupertino, provides software to allow companies to monitor and control access to network-based applications.
Maybe the most interesting thing about this deal is that Securify is selling out for far less than the amount of venture capital it raised.