Symantec to Acquire Bindview
Symantec Corp. (Nasdaq: SYMC) today announced it has signed a definitive agreement to acquire BindView Development Corporation (Nasdaq: BVEW), a global provider of agent-less IT security compliance software. The all-cash transaction, which is subject to regulatory and BindView shareholder approvals, is valued at approximately $209 million or $4 per share and is expected to close in the first calendar quarter of 2006. Upon close of this acquisition, Symantec expects to provide a comprehensive end-to-end solution for policy compliance and vulnerability management, offering customers a choice of agent-based or agent-less technology architectures.
“Today’s global organizations are challenged by an ever changing security environment and by the need to meet multiple government regulations,” said Ajei Gopal, senior vice president, Solutions, Alliances and Operations, Symantec. “We are excited to be able to offer customers BindView’s leading agent-less policy compliance solution. Not only will we be able to meet customers’ IT security and policy compliance needs with a complete range of product capabilities, but we will also be able to help reduce the cost and complexity associated with compliance.”
Agent-based and agent-less policy compliance solutions are complementary capabilities in the IT environment and address different customer needs. Symantec’s agent-based technology architecture offers full-featured compliance and vulnerability management, and is well suited for enterprises that have complex and heterogeneous IT environments. BindView’s agent-less architecture, which is less IT-staff intensive, is ideal for organizations faced with managing a large number of systems that are not centrally located, such as Windows desktop machines deployed throughout the enterprise.
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