Symantec intends to bolster its offering of endpoint solutions with the acquisition of Altiris. Symantec will pay approximately $830 million in cash to close the deal, which is subject to regulatory and shareholder approval.
Altiris provides solutions aimed at mobile devices, laptops, desktops, servers, and storage-related devices. The company's solutions help manage and enforce security policies, protect against threats, and repair and service assets.
"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," said John W. Thompson, chairman and CEO of Symantec.
Founded in 1998, Altiris grew quickly and in 2002 launched a successful initial public offering (IPO). In 2005, the company acquired Pedestal Software to bolster its suite of security offerings.
Over the past several years, Symantec, founded in 1982, has grown quickly through its acquisitions of IMlogic, Sygate Technologies, WholeSecurity, VERITAS Software, Bindview, ON Technology, PowerQuest, and Relicore. Symantec currently has more than 17,500 employees worldwide; Altiris has about 1,000. Upon completion of the acquisition, which is expected to close second quarter 2007, Symantec will create a new business unit centered around Altiris that will be led by Greg Butterfield, current president and CEO of Altiris.