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Symantec Corporation: Symantec to Extend Online Services with
Acquisition of MessageLabs; Market leaders join to deliver the broadest
set of messaging security offerings
(M2 PressWIRE Via Acquire Media NewsEdge)
RDATE:08102008
CUPERTINO, Calif. -- Symantec Corp. (Nasdaq: SYMC) today announced it
has signed a definitive agreement to acquire MessageLabs, a leading
provider of online messaging and Web security services. Under the terms
of the agreement, Symantec will acquire MessageLabs for a purchase
price of approximately $695 million in cash, subject to foreign
currency adjustments, payable in approximately GBP310 million Pounds
Sterling and $154 million US Dollars. MessageLabs generated
approximately $145 million in revenue during fiscal year 2008, ending
July 31, 2008 and grew by more than 20 percent over the prior fiscal
year. The agreement is subject to customary closing conditions
including regulatory approvals, and is expected to close by the end of
the 2008 calendar year.
With the acquisition of MessageLabs, Symantec gains a leadership
position in the rapidly growing Software-as-a-Service (SaaS) segment
and strengthens its lead in the messaging security market. MessageLabs
is the number-one provider of online messaging security worldwide with
more than eight million end users at more than 19,000 clients ranging
from small business to the Fortune 500.
Symantec will capitalize on cross-selling and up-selling its existing
SaaS offerings of backup, storage and online remote access into the
MessageLabs customer base. And future SaaS offerings, leveraging
Symantec technology in data loss prevention, compliance, endpoint
security and archiving, will be enhanced by MessageLabs' expertise in
SaaS sales, operations and support.
"MessageLabs extends our investments in the Software-as-a Service
segment and will allow us to offer our customers unprecedented choice
from a single provider of message security solutions" said John W.
Thompson, chairman and chief executive officer, Symantec. "By combining
MessageLabs with our Symantec Protection Network team, we have one of
the strongest portfolios of cloud-based infrastructure services and a
great foundation on which to grow."
By combining MessageLabs' deep expertise in the SaaS market with
Symantec's rich portfolio of technologies, Symantec will be able to
offer a broad portfolio of online service to secure and manage
information. By bringing together two industry leaders, Symantec
significantly expands its messaging security market leadership. In
addition, Symantec will provide the broadest range of offerings in the
messaging security market including software, appliance and hosted
services.
"Symantec and MessageLabs have a common belief in the benefits of
in-the-cloud services and how they enable customers to be protected
from threats and enforce policy," said Adrian Chamberlain, chief
executive officer, MessageLabs.
"MessageLabs' services help ensure that only safe and appropriate
information enters and leaves the organization.
Together, with Symantec, we can set a roadmap for the future of online
services."
This acquisition also continues the momentum of the Symantec Protection
Network, the Symantec SaaS platform. By combining MessageLabs and
Symantec Protection Network, customers will benefit from access to a
greater number of SaaS offerings on one easy-to-use portal and the
opportunity to purchase through a broader network of partners in more
locations around the world. MessageLabs customers will now have access
to Symantec Protection Network offerings through MessageLabs'
established SaaS go-to-market model. Symantec's proven small-and-medium
and enterprise channel program will expand the global access to
MessageLabs offerings.
MessageLabs' established suite of online services for messaging and web
security provide additional, complementary offerings to those already
available on the Symantec Protection Network platform which includes
Online Backup, Online Storage for Backup Exec and Online Remote Access.
MessageLabs' 14 worldwide data centers and significant expertise in
SaaS sales, operations and support will also allow for future
international expansion of current Symantec Protection Network services.
MessageLabs plus Symantec Protection Network will result in the
creation of a new Symantec Software-as-a-Service product group to
accelerate the development of new SaaS solutions and hybrid offerings
for IT professionals. SaaS is described as one of the most impactful
trends in software with a current estimated market size of $5.71
billion (in 2007) reaching $16.98 billion by 2012, representing 24.4
percent CAGR according to IDC'. For more information on how MessageLabs
will complement Symantec in the delivery of SaaS offerings please
visit: http://go.symantec.com/MessageLabs.
Webcast and Conference Call Information
Symantec will host a conference call and webcast today to discuss the
acquisition at 5 a.m. PST/ 8 a.m. EST/ 1 p.m. GMT.
The live discussion can be accessed by dialing 888-253-4037 domestic
and 719-867-0591 internationally, passcode 460686. An audio webcast of
the call will also be available at www.symantec.com/invest. Please go
to the Web site at least 15 minutes early to register, download, and
install any necessary audio software. A replay of the call will be
available via webcast at www.symantec.com/invest.
About MessageLabs
MessageLabs is a leading provider of integrated messaging and web
security services, with more than 19,000 clients ranging from small
business to the Fortune 500 located in more than 86 countries.
MessageLabs provides a range of managed security services to protect,
control, encrypt and archive communications across email, web and
instant messaging. These services are delivered by MessageLabs globally
distributed infrastructure and supported 24/7 by security experts. This
provides a convenient and cost-effective solution for managing and
reducing risk and providing certainty in the exchange of business
information. MessageLabs main shareholders include the founders Ben and
Jos White, Catalyst Investors and Prospect Investment Management. For
more information, please visit www.MessageLabs.com.
About Symantec
Symantec is a global leader in providing security, storage and systems
management solutions to help businesses and consumers secure and manage
their information. Headquartered in Cupertino, Calif., Symantec has
operations in more than 40 countries. More information is available at
www.symantec.com.
NOTE TO EDITORS: If you would like additional information on Symantec
Corporation and its products, please visit the Symantec News Room at
http://www.symantec.com/news. All prices noted are in U.S. dollars and
are valid only in the United States.
Symantec and the Symantec Logo are trademarks or registered trademarks
of Symantec Corporation or its affiliates in the U.S. and other
countries. Other names may be trademarks of their respective owners.
FORWARD-LOOKING STATEMENTS:
This press release contains forward-looking statements within the
meaning of U.S. federal securities laws, including expectations
regarding the closing of Symantec's acquisition of Message Labs and the
integration of its products and technologies into Symantec's products
and solutions, that involve known and unknown risks and uncertainties
that may cause actual results to differ materially from those expressed
or implied in this press release. Such risk factors include, among
others, satisfaction of closing conditions to the transaction, our
ability to successfully integrate the acquired businesses and
technologies, and customer demand for the technologies and integrated
product offerings. Actual results may differ materially from those
contained in the forward-looking statements contained in this press
release.
Additional information concerning these and other risk factors is
contained in the Risk Factors sections of Symantec's Annual Report on
Form 10-K for the fiscal year ended March 28, 2008.
Symantec assumes no obligation to update any forward-looking statement
contained in this press release.
((M2 Communications Ltd disclaims all liability for information
provided within M2 PressWIRE. Data supplied by named party/parties.
Further information on M2 PressWIRE can be obtained at
http://www.presswire.net on the world wide web. Inquiries to
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Copyright ? 2008 M2 Communications Ltd.
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