Symantec buys MessageLabs

Symantec Corp. will acquire MessageLabs Ltd., a provider of online anti-spam software, for about $695 million, the Wall Street Journal reports.

Symantec intends to use MessageLabs' technology to develop other online security products, said Greg Hughes, Symantec's chief strategy officer.

The security companies are flush with cash. Symantec, of Cupertino, Calif., said it held $2 billion as of July 4, while McAfee Inc., of Santa Clara, Calif., reported cash holdings of $1.3 billion as of June 30.

Businesses worldwide will spend about $30 billion in security software, hardware and consulting services in 2008, up 19 percent from 2007, according to Gartner Inc.

While not immune to budget pressure, spending on security tends to hold up better than other technology. "Security budgets aren't considered discretionary," said Gartner analyst John Pescatore. "Businesses don't want to get hit by a new threat or be noncompliant" with regulations.

Reader Comments

Please post your comments here. Comments are moderated, so they may not appear immediately after submitting. We will not post comments that we consider abusive or off-topic.

Please type the letters/numbers you see above

What is your e-mail address?

My e-mail address is:

Do you have a password?

Forgot your password? Click here
close

Trending

  • Dive into our Contract Award database

    In an exclusive for WT Insider members, we are collecting all of the contract awards we cover into a database that you can sort by contractor, agency, value and other parameters. You can also download it into a spreadsheet. Our databases track awards back to 2013. Read More

  • Navigating the trends and issues of 2016 Nick Wakeman

    In our latest WT Insider Report, we pull together our best advice, insights and reporting on the trends and issues that will shape the market in 2016 and beyond. Read More

contracts DB

Washington Technology Daily

Sign up for our newsletter.

I agree to this site's Privacy Policy.