GFI acquires Sunbelt Software
- 13 July, 2010 22:00
GFI has acquired Sunbelt Software for an undisclosed price. The companies said the goal of the merger is to develop integrated security products for both on-premises use and the cloud.
GFI, based in Malta with a US office and others in several locations around the world, offers web and email security. Florida-based Sunbelt Software provides antivirus and antispyware security software.
"No specific plans have been made yet in terms of product integration strategies, but we are working with the GFI team to identify areas where their technologies would complement our offerings," says Sunbelt CEO Alex Eckelberry. He adds that he plans to stay on to continue running Sunbelt's VIPRE technology product operations, though Sunbelt co-founder Stu Sjouwerman is retiring.
Eckelberry says GFI is expected to be an additional source of capital and management expertise to help deliver Sunbelt products into new markets, adding he believed the acquisition to be in the best interests of all, including shareholders, employees, customers and partners.
"We see this investment in Sunbelt and its VIPRE technology as an excellent opportunity to increase our installed base, drive the software globally through our international partner channel and also build our consumer market," says Walter Scott, GFI’s CEO. He says Sunbelt has a "good, growing and cash-flow positive business."