Symantec to acquire Altiris for US$830 million

Stan Beer
Tuesday, 30 January 2007 17:55

IT Industry - Strategy

Security software vendor Symantec today announced it has signed an agreement to acquire Altiris, a provider of IT management software that enables businesses to 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 is aimed at bolstering its position 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 organisation's corporate IT assets, including desktops, laptops, servers, and handheld devices.

"Today's IT departments are faced with constant pressures to manage spiraling IT complexity at the lowest possible cost. We have made it our goal to help businesses reduce the cost and complexity of IT, improve system and data security, and better align IT service with corporate objectives," said Greg Butterfield, president and chief executive officer, Altiris. "By combining our software solutions, services, and channel distribution strengths, Symantec and Altiris can offer our customers the 'total package' in endpoint management."