MessageLabs acquired by Symantec

Posted by   Virus Bulletin on   Oct 8, 2008

Acquisition deal valued at $695m.

Security industry heavyweight Symantec has announced a definitive agreement to acquire software-as-a-service security specialist MessageLabs.

According to the terms of the agreement, Symantec will pay a purchase price of approximately $695 million in cash (which will be split into roughly £310 million sterling and $154 million USD).

MessageLabs grew by more than 20 per cent over the last fiscal year to see annual sales of $145 million with more than eight million end-users. Symantec representatives say that the aim of the acquisition is to strengthen the security vendor's software-as-a-service offerings, which is an area tipped by security industry watchers for significant and rapid growth.

This latest acquisition comes four months after Symantec announced its plans to purchase online backup service SwapDrive and just a couple of months after announcing its purchase of security and privacy vendor PC Tools.

The agreement is expected to be completed by the end of this calendar year.

Posted on 08 October 2008 by Virus Bulletin

twitter.png
fb.png
linkedin.png
hackernews.png
reddit.png

 

Latest posts:

VBSpam tests to be executed under the AMTSO framework

VB is excited to announce that, starting from the Q3 test, all VBSpam tests of email security products will be executed under the AMTSO framework.

In memoriam: Prof. Ross Anderson

We were very sorry to learn of the passing of Professor Ross Anderson a few days ago.

In memoriam: Dr Alan Solomon

We were very sorry to learn of the passing of industry pioneer Dr Alan Solomon earlier this week.

New paper: Nexus Android banking botnet – compromising C&C panels and dissecting mobile AppInjects

In a new paper, researchers Aditya K Sood and Rohit Bansal provide details of a security vulnerability in the Nexus Android botnet C&C panel that was exploited in order to gather threat intelligence, and present a model of mobile AppInjects.

New paper: Collector-stealer: a Russian origin credential and information extractor

In a new paper, F5 researchers Aditya K Sood and Rohit Chaturvedi present a 360 analysis of Collector-stealer, a Russian-origin credential and information extractor.

We have placed cookies on your device in order to improve the functionality of this site, as outlined in our cookies policy. However, you may delete and block all cookies from this site and your use of the site will be unaffected. By continuing to browse this site, you are agreeing to Virus Bulletin's use of data as outlined in our privacy policy.