Websense to buy SurfControl for £201m

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Web security company Websense is to buy UK IT security company SurfControl for £201m.

Websense has made a pre-conditional cash offer for LSE-listed company that will see SurfControl's shareholders offered 700 pence in cash for each share. The proposal values SurfControl's existing issued share capital at approximately £201m.

Websense chief executive Gene Hodges said the combination of the two companies would benefit customers, partners and shareholders by creating an IT security company "with the scale and product offerings to compete more effectively with large global security software companies."

"By improving operational efficiencies, we believe we can generate operating margins in the combined business similar to the historical levels we have achieved in our own web security business," said Hodges. "We are especially excited about having SurfControl's BlackSpider on-demand content security solution available to our global customer base."

Surfcontrol's chief executive Patricia Sueltz said that the offer was at a significant premium to the company's shareholders.

The transaction is expected to close in approximately four months following regulatory approval by US and UK agencies.

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