Symantec Nabs MessageLabs for $695M

Schachter, Ken
October 2008
Red Herring;10/8/2008, p7
Trade Publication
The article focuses on Symantec's acquisition of closely held online messaging and web security firm MessageLabs. According to Daniel Ives, an analyst at Friedman, Billings, Ramsey & Co., the deal, worth about $695 million, would boost Symantec's position in the growing software-as-a-service arena. The price target for Symantec has been reduced by Ives from $23 to $18. John Thompson, Symantec chairman and chief executive, said that Symantec and MessageLabs will have more than two times the market share of their nearest competitor.


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