McAfee to Buy Japanese Software Firm

McAfee Associates Inc. said it agreed to buy a closely held Japanese developer of anti-virus software, Jade KK, for about $21 million in stock. The planned acquisition is Santa Clara-based McAfee’s latest move to expand its presence in the lucrative Japanese information technology market, which is the world’s second-largest market behind the U.S. Last month, the developer of computer network security and anti-virus software opened its first office in Japan. It also hired Masahiro Kano, a veteran of Japan’s Softbank Corp., Novell Inc. and Corel Corp.’s WordPerfect, to be president of McAfee Japan. Jade, which produces Scan Vaccine and Virus Rescue software, would make McAfee one of the leading developers of anti-virus software in Japan and boost its global network of computer anti-virus research facilities. Under terms of the acquisition, which is expected to be completed in March, McAfee expects to issue about 360,000 shares for Jade, which totals about $21 million based on Wednesday’s closing price of $58.125. The transaction would be accounted for as a pooling of interests. McAfee shares fell 37.5 cents to close at $57.75 on Nasdaq.