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Symantec plonks down $695m on MessageLabs

October 8, 2008 11:08pm

Symantec made its fifth acquisition of the year on Tuesday, continuing a spate of consolidation in the IT security sector with a $695m deal to buy MessageLabs of the UK. 

MessageLabs, which has offices in Gloucester, uses a software-as-a-service model to deliver security for online chat, email and web applications. The company’s software allows customers to block malware, prevent access to certain web sites, and stop the unauthorised transfer of sensitive information. It claims to be the number one such company in the world, with more than 19,000 customers.

McAfee, one of Symantec’s leading rivals, scooped up a similar company, Secure Computing, for $465m last month. 

For Symantec,  the acquisition is an opportunity to extend its traditional security products into MessageLabs’s software-as-a-service model. From the press release:

By combining MessageLabs’ deep expertise in the SaaS market with Symantec’s rich portfolio of technologies, Symantec will be able to offer a broad portfolio of online service to secure and manage information. By bringing together two industry leaders, Symantec significantly expands its messaging security market leadership. In addition, Symantec will provide the broadest range of offerings in the messaging security market including software, appliance and hosted services.

“Symantec and MessageLabs have a common belief in the benefits of in-the-cloud services and how they enable customers to be protected from threats and enforce policy,” said Adrian Chamberlain, chief executive officer, MessageLabs. “MessageLabs’ services help ensure that only safe and appropriate information enters and leaves the organization. Together, with Symantec, we can set a roadmap for the future of online services.”

October 8, 2008 11:08pm in Internet | Comment

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