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.”