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UPDATE 1-McAfee CEO says plans 3-4 acquisitions every year
February 26, 2010 / 5:31 AM / 8 years ago

UPDATE 1-McAfee CEO says plans 3-4 acquisitions every year

* CEO: sees small- and mid-sized technology firms as targets

* CEO: McAfee is not for sale (Adds CEO comments, details, background)

TOKYO, Feb 26 (Reuters) - U.S. security software maker McAfee Inc MFE.N plans to acquire three to four companies every year to help drive its growth, Chief Executive David DeWalt said.

“We’ve been very constantly acquiring companies the last few years. We’ll continue to do that. We see small- and medium-sized acquisitions as the perfect scenario for us,” DeWalt told Reuters Television in an interview on Friday in Tokyo.

“Not risky acquisitions. Technology-oriented acquisitions all over the world,” he said.

DeWalt has led the company, which competes with Symantec Corp (SYMC.O), through double-digit sales growth in recent years, and is viewed as a savvy dealmaker.

McAfee’s biggest acquisition to date was its purchase in 2008 of Internet security company Secure Computing for $465 million.

DeWalt reiterated that he had no intention of putting his own company on the block.

Analysts have said McAfee would make a prime takeover target for technology industry giants such as Hewlett-Packard (HPQ.N) and IBM (IBM.N), which are aiming to package software, services and hardware for their corporate clients.

“We are not for sale. There’s nothing material to announce,” DeWalt said. (Reporting by Dan Sloan and Kiyoshi Takenaka)

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