Advertisment

Symantec to acquire Vontu

author-image
CIOL Bureau
Updated On
New Update

BANGALORE, INDIA: Symantec Corp. has announced that it has signed a definitive agreement to acquire Vontu, Data Loss Prevention (DLP) solutions provider, for $350 million.

Advertisment

The acquisition is expected to close in the fourth calendar quarter of 2007, subject to receiving regulatory approvals and satisfaction of other customary closing conditions, Symantec said in a statement.

Data loss prevention solutions help organizations prevent the loss of confidential or proprietary information wherever it is stored or being used. Vontu’s products will complement Symantec's existing portfolio of endpoint and network security, storage and compliance solutions, to provide customers with the most comprehensive platform for data loss prevention.

“The combination of Symantec’s existing portfolio and Vontu’s leading products and dedicated team enables us to deliver a central component of our Security 2.0 vision to customers − information-centric security that protects both the device and the information itself,” said Tom Kendra, group president, Security and Data Management Group, Symantec.

Joseph Ansanelli, CEO, Vontu, said, “By joining forces with Symantec and building upon their strength in enterprise security and storage solutions, we will be uniquely positioned to help customers answer the important questions as to where their confidential information is stored, how it is being used, and how best to prevent its loss.”

Symantec expects this transaction to be $0.02 dilutive to FY08 non-GAAP earnings per share and expects FY08 GAAP earnings per share to be more diluted due to purchase accounting, stock based compensation and acquisition related charges associated with the transaction.

tech-news