Cisco to Acquire Howard County Company for $2.7 Billion

Sourcefire, a Columbia cybersecurity company founded in 2001, has agreed to an acquisition agreement with Cisco for $2.7 billion.

Cisco, a global networking company, purchased the company to bolster its security division as companies and governments look for more advanced technology to keep data safe, according to a joint statement from the companies.

Sourcefire, which is headquartered on Patuxent Woods Drive, specializes in developing network security and malware protection for large- to mid-size organizations and government agencies.

Hilton Romanski, a Cisco vice president, said in a statement the Sourcefire acquisition offers Cisco "a unique opportunity to deliver the most comprehensive approach to security in the market."

Sourcefire went public in 2007 and in 2012 reported revenue of $223.1 million, a 35 percent increase over 2011. Cisco will pay $76 per share in cash to acquire Sourcefire, according to a statement.

"We're excited about the opportunities ahead to expand our footprint via Cisco's global reach, as well as Cisco's commitment to support our pace of innovation in both commercial markets and the open source community," said Martin Roesch, founder and chief technology officer of Sourcefire, in a statement.

The companies expect the deal to close in the second half of the year, once it receives approval from regulators.

Sourcefire has more than 650 employees worldwide, according to a statement.