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$695 million purchase will allow expansion of online services

Symantec acquires MessageLabs

Security specialist Symantec has acquired MessageLabs in a $695 million deal that is expected to close by the end of this year.

The move will allow Symantec to gain a leadership position in the software-as-a-service (SAAS) sector and strengthens its lead in the messaging security market.

MessageLabs generated approximately $145 million in revenue during the last fiscal year, representing 20 per cent growth year-on-year.

“MessageLabs extends our investments in the Software-as-a Service segment and will allow us to offer our customers unprecedented choice from a single provider of message security solutions,” said chairman and CEO of Symantec, John W Thompson.

“By combining MessageLabs with our Symantec Protection Network team, we have one of the strongest portfolios of cloud-based infrastructure services and a great foundation on which to grow.”

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