Symantec Buys Asset Management Specialist AltirisBy Matt Hines | Posted 2007-01-29 Email Print
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The security software market leader signs an $830 million deal to purchase Altiris, a provider of endpoint management and server migration applications.
Symantec has added to the slew of technologies it will offer as part of its unified security architecture, announcing a deal on Jan. 29 to acquire endpoint management specialist Altiris for approximately $830 million in cash.
Altiris, of Lindon, Utah, specializes in software used by enterprises to manage and service endpoint devices, including PCs, laptops and mobile handhelds, as well as tools used to oversee the operation and maintenance of servers and IT storage systems.
Through the acquisition, Symantec claims to have added an important piece to its vision of unified enterprise security, which evangelizes the use of integrated tiers of products from one vendor, versus the traditional approach of melding together individual point technologies from multiple providers.
Symantec, based in Cupertino, Calif., said that the addition of Altiris specifically expands its ability to provide packaged security, compliance, and backup and recovery solutions for endpoints, servers and storage systems. In addition to aiding businesses in managing the configuration and maintenance of such devices, Symantec said Altiris' technologies will bolster its ability to offer products that enforce security policies at the endpoint, as well as identify and protect against threats.
Under the terms of the deal, Symantec has signed a definitive agreement to purchase all of Altiris' assets, with shareholders in the acquired company receiving $33 per share of the firm's stock in cash. The security software market leader said that it expects the deal to close some time during the second quarter of 2007, subject to approval from regulators and Altiris' shareholders.