Intel selling Stonesoft to Raytheon-Websense

Intel is looking to sell Stonesoft, and according to media reports, the buyer is Raytheon-Websense. The price of the acquisition is yet unknown.

Stonesoft is a Finnish cyber-security company building computer firewalls, that was acquired by Intel two years ago, in a deal worth $389 million (£253m).

Raytheon, on the other hand, is a defence industry giant which bought Websense last April for $1.9 billion (£1.24bn). After the acquisition, Raytheon became Raytheon-Websense, a joint venture with Raytheon owning 80 per cent, with the rest in the hands of Vista Equity Partners.

Fortune says that Intel did not respond to requests for comment, and a Raytheon spokesperson had nothing to say. But some details about the deal did emerge.

Trade publication CRN has shown an internal memo from Raytheon-Websense CEO John McCormack outlining the acquisition plans. According to that memo, the move will add 300 employees to Raytheon staff and bolster Raytheon’s Triton security platform in the hybrid cloud arena.

“Intel’s move also falls in line with HP’s announced plan to sell TippingPoint to TrendMicro. Neither of those networking portfolios were performing well and were losing ground to Palo Alto Networks, Checkpoint, Dell and Fortinet,” IDC research director Robert Westervelt told Fortune via email.

Inter Security’s senior vice president and general manager Chris Young recently said that the company will add new products in some areas and divest in others as part of the new strategy.

“We are making some tough trade-offs in our portfolio,” Young said at the company’s Focus 15 event in Las Vegas this week. “We’re also bringing new products [into the portfolio].”