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California-based networking-equipment maker Netgear Inc has announced to buy China's CP Secure Inc for 17.5 million US dollar. CP Secure Inc. is a security firm that provides of security solutions to protect against Internet-originated web and email based malware threat. According to the deal, Netgear will have to pay $14 million in cash in order to acquire CP Secure's assets. After the completion of the deal, Shuang Ji of CP Secure will become the Vice President of Engineering for Netgear's security product.
Netgear Inc designs networking products for small businesses and home users, specializing in developing wireless devices that create local area networks known as Wi-Fi, or wireless-fidelity. The company's products enable users to share Internet access, peripherals, files, digital multimedia content, and applications among multiple personal computers. Wireless products account for more than half of the company's sales. International sales account for 56 percent of the company's annual revenue.
