Sourcefire turns down Barracuda Networks

By Lisa Kerner

Charlotte, N.C., June 25 - Sourcefire, Inc. said the recent indication of interest from privately held Barracuda Networks, Inc. is not in its shareholders' best interests.

The board of directors of Sourcefire, along with its advisers, reviewed Barracuda's June 9 letter before making the decision, a Sourcefire news release said.

"Sourcefire is uniquely positioned to drive the future of network security," Joseph R. Chinnici, non-executive chairman of the Sourcefire board, stated in the release.

Chinnici said incoming chief executive officer John Burris has the skill "to build on Sourcefire's strong momentum" and deliver shareholder value.

In May it was reported that Sourcefire rejected a $7.50-per-share cash offer from Barracuda Networks.

Sourcefire, based in Columbia, Md., provides enterprise threat management solutions for information technology infrastructures.

Barracuda Networks is a Campbell, Calif., provider of email and web security appliances.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.