Symantec buys IT management firm

30 Jan 2007

Data and security giant Symantec last night revealed it had acquired IT management software player Altiris for US$830m (€640.7m) in cash.

Under the terms of the deal Altiris shareholders will receive US$33 per share of Altiris common stock in cash.

The transaction, which will be subject to regulatory and stockholder approval, is expected to close in the second quarter of this year.

Altiris’s technology enables businesses to easily manage and service network-based endpoints – from mobile devices, laptops and desktops to servers and storage assets.

It is understood that the acquisition will enhance Symantec’s ability to service the enterprise market, where it is already active in security and backup and recovery technologies.

With Altiris technology, Symantec believes it will be able to help businesses better enforce security, 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 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,” Thompson added.

Another key aspect of the deal is virtualisation software that Altiris has developed to make PC application deployment quicker and easier.

“Today’s IT departments are faced with constant pressures to manage spiralling IT complexity at the lowest possible cost,” said Greg Butterfield, president and chief executive officer, Altiris.

“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.

“By combining our software solutions, services and channel distribution strengths, Symantec and Altiris can offer our customers the ‘total package’ in endpoint management,” Butterfield added.

By John Kennedy