AttachmateWRQ is to acquire NetIQ for $495 million, the company said on Thursday.

NetIQ sells systems and security management products that help IT administrators ensure policy compliance and manage service levels. AttachmateWRQ's products allow administrators to make corporate data accessible to more users and also manage and secure enterprise systems.

Combined, the companies will be able to offer a wider array of products to customers, AttachmateWRQ said.

The company added that it will pay cash for NetIQ shares. NetIQ, based in San Jose, California, will operate as a business unit within the Seattle-based AttachmateWRQ.

According to AttachmateWRQ, the acquisition has been approved by the boards of both companies and is expected to take around 90 days to close.

Attachmate and WRQ merged last year to form AttachmateWRQ, a company owned by a group of investors. At the time of the merger, AttachmateWRQ executives hinted that the new company might make acquisitions in the future.

The NetIQ acquisition follows an announcement in March that AttachmateWRQ acquired OnDemand Software for an undisclosed amount.