Symantec snaps up MessageLabs

Powered by SC Magazine
 

Symantec has announced plans to acquire MessageLabs for nearly US$700m in cash.

Anti-virus firm Symantec has announced plans to acquire messaging and web security company MessageLabs for nearly US$700m in cash.

Symantec plans to use the buy to strengthen and grow its software-as-a-service (SaaS) model by integrating MessageLabs's technology into its Symantec Protection Network Team.

"MessageLabs extends our investments in the SaaS segment and will allow us to offer our customers unprecedented choice from a single provider of message security solutions," said John W. Thompson, chairman and chief executive at Symantec.

The acquisition will result in the creation of a new Symantec SaaS product group, and existing MessageLabs customers will be moved over to Symantec Protection Network and then on to the new group.

"Symantec and MessageLabs have a common belief in the benefits of in-the-cloud services and how they enable customers to be protected from threats and enforce policy," said Adrian Chamberlain, chief executive at MessageLabs.

Symantec plans to use MessageLabs' 14 worldwide data centres and significant expertise in SaaS sales, operations and support as a platform to launch an international expansion of its combined range of services.

The move follows the company's recent acquisition of PC Tools, further bolstering the consumer side of its business.


Under the terms of the agreement, Symantec will acquire MessageLabs in two payments which, depending on foreign currency adjustments, totals around US$695m.

Assuming all the standard regulatory boxes are ticked and customary closing conditions are met, the deal is expected to close by the end of 2008.

Copyright ©v3.co.uk


Symantec snaps up MessageLabs
 
 
 
Top Stories
IBM, NEC picked for major NSW Transport deals
Final contract negotiations begin.
 
Govt proposes crackdown on ISPs over piracy
Wants new legal powers for copyright industry.
 
Westpac interim CIO resigns
Group CIO yet to be appointed.
 
 
Sign up to receive iTnews email bulletins
   FOLLOW US...
Latest Comments
Polls
What is delaying adoption of public cloud in your organisation?







   |   View results
Lock-in concerns
  30%
 
Application integration concerns
  3%
 
Security and compliance concerns
  27%
 
Unreliable network infrastructure
  9%
 
Data sovereignty concerns
  21%
 
Lack of stakeholder support
  3%
 
Protecting on-premise IT jobs
  4%
 
Difficulty transitioning CapEx budget into OpEx
  3%
TOTAL VOTES: 1016

Vote