Banking

Symantec says it is open to acquiring more companies

On the heels of its acquisition of Vontu in December of 2007 and Altiris in April of 2007 for $350 million and $830 million respectively, Symantec says it is open about the possibility of further acquisitions in the year 2008.
On the heels of its acquisition of Vontu in December of 2007 and Altiris in April of 2007 for $350 million and $830 million respectively, Symantec says it is open about the possibility of further acquisitions in the year 2008. CEO John Thompson stressed that the company has no mega acquisition spree planned. However, he says that Symantec will look to buy companies that fit into its plans where "security and data management" are concerned.

Excerpt from eWeek:

"The early synergies in both product development and sales from Altiris and Vontu have been encouraging, as they help to underpin new growth initiatives for our company," Thompson said. "It is my belief that these types of acquisitions should add new top-line growth for Symantec and help improve our operating returns. I would expect us to continue to look for acquisitions that drive revenue growth and enhance our net income."
In the fiscal year that ended in December, Symantec's revenue topped $1.52 billion, with $132 million in net income.

What is your opinion here: Will Symantec's strategy result in better products at the end of the day?

About

Paul Mah is a writer and blogger who lives in Singapore, where he has worked for a number of years in various capacities within the IT industry. Paul enjoys tinkering with tech gadgets, smartphones, and networking devices.

2 comments
paulmah
paulmah

What is your opinion here: Will Symantec's strategy result in better products at the end of the day?

JCitizen
JCitizen

they got a hold on. I pray every day they won't buy the products that actualy work; especially some of the free ware like Comodo's firewall. They've already gutted Sygate and many more.