Symantec Acquisition of BindView Clears Hart-Scott-Rodino Review

Symantec Acquisition of BindView Clears Hart-Scott-Rodino Review

Symantec Corp. (Nasdaq: SYMC) today announced that the waiting period imposed by the Hart-Scott-Rodino Antitrust Improvements Act concerning the proposed acquisition of BindView Corp. (Nasdaq: BVEW) has terminated. Completion of the transaction, expected during the first calendar quarter of 2006, still requires satisfaction of certain conditions, including BindView shareholder approval.

The companies announced on Oct. 3, 2005 a definitive agreement for Symantec to acquire BindView Development Corporation. The all-cash transaction is valued at approximately $209 million or $4 per share. 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.

About BindView
BindView Development Corporation is a global provider of IT security compliance software. BindView solutions remove barriers that limit an organization’s ability to cost-effectively demonstrate due care and maintain compliance with IT security policies and regulatory mandates. BindView policy compliance, vulnerability and configuration management, and directory and access management software combines best-practice knowledge with automated controls to reduce risk and protect IT assets at the lowest cost across users, systems, applications and databases in multi-platform environments. More than 20 million licenses have been sold to 5,000 companies worldwide, spanning all major business segments and the public sector.

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