CUPERTINO, Calif. Jan. 29, 2007 Symantec Corp. (Nasdaq:
SYMC) today announced it has signed a definitive agreement to
acquire Altiris, Inc. (Nasdaq: ATRS), a leading provider of IT
management software that enables businesses to easily manage and
service network-based endpoints from mobile devices, laptops, and
desktops to servers and storage assets. Under the terms of the
agreement, Altiris stockholders will receive $33 per share of
Altiris common stock in cash, resulting in a transaction value of
approximately $830 million net-of-cash-acquired. The transaction is
subject to customary closing conditions including regulatory and
Altiris stockholder approvals, and is expected to close in the
second calendar quarter of 2007.
Symantecs acquisition of Altiris should bolster its position and
leverage its strengths on the enterprise endpoint. Symantec helps
businesses protect their endpoints with leading security,
compliance, and backup and recovery solutions for mobile devices
and PCs to servers and storage assets. Altiris helps companies
manage their endpoints and the configuration of those assets. With
the Altiris solutions, Symantec expects to be able to help
customers better manage and enforce security policies at the
endpoint, identify and protect against threats, and repair and
service assets.
The most secure endpoint is a well-managed endpoint. The best
protection must be complemented by the ability to remediate and
address vulnerabilities that could be exploited, said John W.
Thompson, chairman and chief executive officer, Symantec. By
combining the endpoint management solutions from Altiris with the
security expertise from Symantec, we believe we can offer customers
a more comprehensive solution to protect and manage the millions of
connected devices that make up the fabric of todays global IT
infrastructure.
Altiris solutions are aimed at reducing the cost and complexity of
tracking, supporting, and maintaining an organizations corporate
IT assets, including desktops, laptops, servers, and handheld
devices. Altiris offers its customers a unique approach to IT
service management with its modular, integrated solutions for
server, client and mobile lifecycle management, and asset and
service management. In addition, Altiris has also introduced
innovative software virtualization technology critical to providing
faster, simpler and more manageable deployment of PC applications.
This technology helps to reduce support costs and streamline
software operations.
Todays IT departments are faced with constant pressures to manage
spiraling IT complexity at the lowest possible cost. We have made
it our goal to help businesses reduce the cost and complexity of
IT, improve system and data security, and better align IT service
with corporate objectives, said Greg Butterfield, president and
chief executive officer, Altiris. By combining our software
solutions, services, and channel distribution strengths, Symantec
and Altiris can offer our customers the 'total package' in endpoint
management.
Conference Call
There will be an analyst and investor conference call conducted by
management teams of both Symantec and Altiris to discuss the
transaction, today at 8 a.m. EST/5 a.m. PST. The live discussion
can be accessed by dialing (800) 289-0572 or (913) 981-5543,
passcode 2924997. A webcast of the Symantec/Altiris analyst and
investor conference call will also be available on the Internet at
www.symantec.com/invest and www.Altiris.com. There will be replay
of the webcast available on the Web sites for those shareholders
and analysts who are unable to listen to the live call.
About Altiris
Altiris, Inc. is a leading provider of service-oriented management
software that enables IT organizations to easily manage, secure and
service heterogeneous IT assets. Flexible solutions from Altiris
help IT align services to drive business objectives, deliver
audit-ready security, automate tasks, and reduce the cost and
complexity of management. For more information, visit
www.Altiris.com.
About Symantec
Symantec is a global leader in infrastructure software, enabling
businesses and consumers to have confidence in a connected world.
The company helps customers protect their infrastructure,
information, and interactions by delivering software and services
that address risks to security, availability, compliance, and
performance. Headquartered in Cupertino, Calif., Symantec has
operations in 40 countries. More information is available at
www.symantec.com.