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Symantec Snaps Uo MessageLabs For USD 695 million

Symantec the leading security software developer is all set to purchase UK based MessageLabs in a deal worth $695 million.

The UK based MessageLabs which develops solutions for protecting users from viruses communicated via email and instant messengers, incidentally has nearly a third of hosted security market and fits right into Symantec’s scheme of things.

With this acquisition Symantec will gain a lead over rivals Google and Microsoft in the hosted security and filtered web traffic market and is expected to gain nearly nineteen thousand customers.

Expressing the rationale behind the deal, John Thompson the CEO of Symantec noted that “The timing of this choice couldn’t be more appropriate as customers think carefully about their IT investment plans for the coming years”.

It is expected that Symantec will integrate MessageLabs operations from its existing backup and restore service and will offer a more holistic set of services to its customers.

Désiré Athow

Désiré has been musing and writing about technology during a career spanning four decades. He dabbled in website building and web hosting when DHTML and frames were en vogue and started writing about the impact of technology on society just before the start of the Y2K hysteria at the turn of the last millennium. Following an eight-year stint at where he discovered the joys of global tech-fests, Désiré now heads up TechRadar Pro. Previously he was a freelance technology journalist at Incisive Media, Breakthrough Publishing and Vnunet, and Business Magazine. He also launched and hosted the first Tech Radio Show on Radio Plus.