Sourcefire has rejected a $186 million unsolicited takeover offer from Barracuda Networks. Open-source security software maker Sourcefire has rejected a US$186 million unsolicited takeover offer from Barracuda Networks.Late Thursday, Barracuda offered to pay $7.50 per share, a 13 percent premium on the company’s current stock price, but about half of what Sourcefire shares fetched a year ago. Barracuda, a maker of security appliances that include some of Sourcefire’s open-source code, said that there was a synergy between the two companies.In a Friday statement, Sourcefire flatly rejected that idea, saying that “the proposal is not in the best interests of Sourcefire and its stockholders” because it “substantially undervalues Sourcefire.”Sourcefire is best known for making the open-source Snort intrusion-detection software. Last year the Columbia, Maryland, company acquired ClamAV, a maker of open-source antivirus products. Barracuda ships ClamAV with its appliances, and the code has been at the center of a high-profile legal dispute between Barracuda and competitor Trend Micro, which claims that ClamAV violates one of its patents.Because it is already fighting a lawsuit with Trend Micro, Barracuda feels it is already addressing what could turn into a legal problem for Sourcefire, Barracuda President and CEO Dean Drako said in a Tuesday letter to Sourcefire’s board of directors, which Barracuda made public Thursday. “We also feel that the company’s inaction in dealing with the looming threat of litigation from Trend Micro has had an effect on the stock price,” he wrote. Related content news Google Chrome zero-day jumps onto CISA's known vulnerability list A serious security flaw in Google Chrome, which was discovered under active exploitation in the wild, is a new addition to the Cybersecurity and Infrastructure Agency’s Known Exploited vulnerabilities catalog. By Jon Gold Oct 03, 2023 3 mins Zero-day vulnerability Vulnerabilities Security brandpost The advantages and risks of large language models in the cloud Understanding the pros and cons of LLMs in the cloud is a step closer to optimized efficiency—but be mindful of security concerns along the way. By Daniel Prizmant, Senior Principal Researcher at Palo Alto Networks Oct 03, 2023 5 mins Cloud Security news Arm patches bugs in Mali GPUs that affect Android phones and Chromebooks The vulnerability with active exploitations allows local non-privileged users to access freed-up memory for staging new attacks. By Shweta Sharma Oct 03, 2023 3 mins Android Security Vulnerabilities news UK businesses face tightening cybersecurity budgets as incidents spike More than a quarter of UK organisations think their cybersecurity budget is inadequate to protect them from growing threats. By Michael Hill Oct 03, 2023 3 mins CSO and CISO Risk Management Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe