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Technology

Intel Corp. (NASDAQ:INTC) To Buy Finland’s Stonesoft Oyj (HEL:SFT1V)

May 7, 2013 by Katty Warnes in Technology with 0 Comments

Northern, WI 05/07/2013 (gdpwatch) – The share price of Stonesoft Oyj (HEL:SFT1V) (Closed: EUR 4.44, Down by 0.22%) soared to reach 4.48 Euros, almost double the previous close. This surge in the share price was caused due to the company board’s acceptance of the offer from Intel Corp. (NASDAQ:INTC) (Closed: $23.91, Down by 0.21%), the world’s largest chip maker. The voting period on the offer is fixed to begin on May 21, 2013 and is scheduled to run for three weeks from there.

Offer From Intel Corp. (NASDAQ:INTC)
Santa Clara, California based Intel Corp. (NASDAQ:INTC) offered to buy the Finland’s Stonesoft Oyj (HEL:SFT1V) to enable its expansion project of its security software business, McAfee. This bid of Intel Corp. (NASDAQ:INTC) would enable the chipmaker to effectively gain leadership in the cyber security business. The Intel Corp. (NASDAQ:INTC) looks forward to expand its product offerings in network – firewall and evasion – prevention businesses which continue to grow with the demand for security of corporations from being hacked. Intel Corp. (NASDAQ:INTC) acquired McAfee in 2011 for $7.7 billion deal as its first move to add cyber security to its portfolio.

Bid At $5.90 Per Share
The shareholders of Stonesoft Oyj (HEL:SFT1V) would now get $5.90 per share or 4.50 Euros, which is almost double the closing price of the share on May 03, 2013 in the Helsinki Exchange. The Finland based Stonesoft Oyj (HEX:SFT1V) is presently facing tough competition and had scaled back few of its product offerings recently. The deal from Intel Corp. (NASDAQ:INTC) would thus prove to be a good value to the shareholders of the cyber security company.

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About Katty Warnes

Katty Warnes Will began her career at the New York Post as a staff photographer. In an environment that created headlines like "Headless Body found in Topless Bar" and "Axis of Weasel", Victoria learned valuable skills that allowed her to eventually go out on her own.  Katty is also a freelance photographer who works appears in newspapers, newswires and magazines world-wide: from the Associated Press to W magazine.  She hails from the Nations capital, but now resides in New York with her two French Bulldogs. She also loves Country Music.

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