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.
“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?
