TITLE

Symantec Nabs MessageLabs for $695M

AUTHOR(S)
Schachter, Ken
PUB. DATE
October 2008
SOURCE
Red Herring;10/8/2008, p7
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
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.
ACCESSION #
36602968

 

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