Cisco says it’s reached a deal to buy computer network security company Sourcefire for about $2.37 billion in cash.

Cisco (Nasdaq: CSCO) will pay $76 cash for each of the Columbia, Md.-based company’s shares. The price represents a 29 percent premium over Sourcefire’s Monday closing stock price. Sourcefire shares jumped 29 percent in premarket trading.

Cisco says the addition of Sourcefire will boost its own cybersecurity offerings.

“‘Buy’ has always been a key part of our build-buy-partner innovation strategy,” said Hilton Romanski, vice president for Cisco Corporate Development. “Sourcefire aligns well with Cisco’s future vision for security and supports the key pillars of our security strategy. Through our shared view of the critical role the network must play in cybersecurity and threat defense, we have a unique opportunity to deliver the most comprehensive approach to security in the market.”

The deal also includes the assumption of outstanding stock awards and retention-based incentives. The companies valued it at about $2.7 billion.

“The notion of the ‘perimeter’ no longer exists and today’s sophisticated threats are able to circumvent traditional, disparate security products. Organizations require continuous and pervasive advanced threat protection that addresses each phase of the attack continuum,” said Christopher Young, senior vice president of Cisco’s Security Group. “With the acquisition of Sourcefire, we believe our customers will benefit from one of the industry’s most comprehensive, integrated security solutions – one that is simpler to deploy, and offers better security intelligence.”

Cisco expects the deal, scheduled to close in the second half of 2013, to slightly reduce its adjusted profit for fiscal year 2014.

Sourcefire was founded in 2001 and went public in 2007. In 2012, its revenue jumped 35 percent to $223.1 million.

“Cisco’s acquisition of Sourcefire will help accelerate the realization of our vision for a new model of security across the extended network,” said Martin Roesch, founder and chief technology officer of Sourcefire, in 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.”

Cisco operates its second largest corporate campus in RTP.