By Lisa Kerner
Charlotte, N.C., Jan. 29 - Symantec Corp. signed a definitive agreement to acquire Altiris, Inc. for $33.00 per share in cash in a transaction valued at roughly $830 million net-of-cash-acquired, according to a company news release.
The transaction, which includes a $37.5 million termination fee, is expected to close in the second quarter of 2007.
"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 today's global IT infrastructure," Symantec chairman and chief executive officer John W. Thompson said in the release.
Altiris, based in Lindon, Utah, is a provider of IT management software.
Symantec, based in Cupertino, Calif., develops software to protect the IT infrastructure.
| Acquirer: | Symantec Corp.
|
| Target: | Altiris, Inc.
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| Payment per share: | $33.00 per share
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| Termination fee: | $37.5 million
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| Announcement date: | Jan. 29
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| Expected closing: | Second quarter of 2007
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| Stock price for target: | Nasdaq: ATRS; $27.14 on Jan. 26
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