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Symantec Buys Message Labs
Mike Sachoff
Staff Writer
2008-10-08
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Symantec said today it has agreed to buy MessageLabs for about $695 million in cash.
 | | Symantec Buys Message Labs |  |
Symantec, the largest maker of computer security and data backup software, said it will pay 310 million pounds sterling and $154 million in US dollars.
The company says its purchase of MessageLabs will give it a stronger position in the rapidly growing Software-as-a-Service (Saas) market and strengthen its lead in the messaging security industry.
MessageLabs is the top provider of online messaging security globally with more than eight million end users at more than 19,000 clients ranging from small business to Fortune 500.
Symantec says it will capitalize on cross-selling and up-selling its existing Saas offerings of backup, storage and online remote access into the MessageLabs customer base.
"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."
About the Author:
Mike is a staff writer for WebProNews. Visit WebProNews for the latest ebusiness news.
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