Symantec to Acquire Altiris
Symantec Corp. (Nasdaq: SYMC) today announced it has signed a definitive agreement to acquire Altiris, Inc. (Nasdaq: ATRS), a leading provider of IT management software that enables businesses to easily manage and service network-based endpoints – from mobile devices, laptops, and desktops to servers and storage assets. Under the terms of the agreement, Altiris stockholders will receive $33 per share of Altiris common stock in cash, resulting in a transaction value of approximately $830 million net-of-cash-acquired. The transaction is subject to customary closing conditions including regulatory and Altiris stockholder approvals, and is expected to close in the second calendar quarter of 2007.
Symantec’s acquisition of Altiris should bolster its position and leverage its strengths on the enterprise endpoint. Symantec helps businesses protect their endpoints with leading security, compliance, and backup and recovery solutions for mobile devices and PCs to servers and storage assets. Altiris helps companies manage their endpoints and the configuration of those assets. With the Altiris solutions, Symantec expects to be able to help customers better manage and enforce security policies at the endpoint, identify and protect against threats, and repair and service assets.
“The most secure endpoint is a well-managed endpoint. The best protection must be complemented by the ability to remediate and address vulnerabilities that could be exploited,” said John W. Thompson, chairman and chief executive officer, Symantec. “By combining the endpoint management solutions from Altiris with the security expertise from Symantec, we believe we can offer customers a more comprehensive solution to protect and manage the millions of connected devices that make up the fabric of today’s global IT infrastructure.”
Altiris solutions are aimed at reducing the cost and complexity of tracking, supporting, and maintaining an organization’s corporate IT assets, including desktops, laptops, servers, and handheld devices. Altiris offers its customers a unique approach to IT service management with its modular, integrated solutions for server, client and mobile lifecycle management, and asset and service management. In addition, Altiris has also introduced innovative software virtualization technology critical to providing faster, simpler and more manageable deployment of PC applications. This technology helps to reduce support costs and streamline software operations.
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