[THIN] Fw: Symantec to Acquire Altiris
- From: "Jim Kerr" <jim@xxxxxxxxxx>
- To: <thin@xxxxxxxxxxxxx>
- Date: Mon, 29 Jan 2007 09:03:32 -0500
News Release
Symantec to Acquire Altiris
Combination creates a comprehensive approach to securing and managing endpoints
CUPERTINO, Calif. - Jan. 29, 2007 - 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.
"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."
Conference Call
There will be an analyst and investor conference call conducted by management
teams of both Symantec and Altiris to discuss the transaction, today at 8 a.m.
EST/5 a.m. PST. The live discussion can be accessed by dialing (800) 289-0572
or (913) 981-5543, passcode 2924997. A webcast of the Symantec/Altiris analyst
and investor conference call will also be available on the Internet at
www.symantec.com/invest and www.Altiris.com. There will be replay of the
webcast available on the Web sites for those shareholders and analysts who are
unable to listen to the live call.
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