Networking vendor Netgear Inc. announced its decision to buy the security firm CP Secure Inc. which deals with detecting potential threats in internet and e-mail traffic that can harm computer network. Reportedly, Netgear will pay $14 million in cash for owning CP Secure’s assets and an additional $3.5 million provided CP Secure hits unspecified objectives before the closure of the acquisition. So, the whole deal amounts to $17.5 million in total.

Patrick Lo, chairman and CEO of Netgear explained the reason of this take over by stating, “CP Secure’s offerings complement our current network security offerings, which include the Netgear ProSafe Wired and Wireless VPN Firewalls and Secure-Socket-Layer (SSL) VPN Concentrator.”

Netgear is expecting to close the deal in the fourth quarter. Under the terms of the transaction, Netgear will supposedly acquire a select team of CP Secure employees, including its Nanjing engineering center with over 40 engineering professionals, its pending patents, proprietary technologies, customer base, current products, and products in development. Following the transaction, CP Secure’s Chief Executive Officer, Shuang Ji, reportedly will become NETGEAR’s Vice President of Engineering for security products.