Further strengthening its position in the security market space, Symantec announced a deal to acquire Bindview. The acquisition, which is expected to close in the first quarter of 2006, better positions Symantec to offer end-to-end security solutions for policy compliance and vulnerability management.
"Today's global organizations are challenged by an ever changing security environment and by the need to meet multiple government regulations," said Ajei Gopal, senior vice president, Solutions, Alliances and Operations, Symantec. Bindview's products help simplify and demonstrate policy compliance for regulations such as Sarbanes-Oxley Act, the Federal Information Security Management Act (FISMA) and Basel II.
In a statement issued Monday, a spokesperson for Symantec said the company will pay $209 million, which equates to approximately $4 per share of Bindview stock. Over the past 24 months Symantec has acquired eleven companies that offer information security solutions. Included in the stream of acquisitions are Safeweb, PowerQuest, ON Technology, LIRIC, @stake, TurnTide, Brightmail, Platform Logic, and most recently, VERITAS and WholeSecurity