Security vendor Symantec will strengthen its position in the software as a service (SaaS) market with a new agreement to acquire messaging and email security company MessageLabs.
The acquisition will cost Symantec approximately US$695 million in cash.
Symantec’s CEO John Thompson said the acquisition will allow customers to purchase more cloud-based products from a single vendor.
“By combining MessageLabs with our Symantec Protection Network team, we have one of the strongest portfolios of cloud-based infrastructure services and a great foundation on which to grow,” Thompson said.
Specifically, Symantec will offer MessageLabs services through its existing Symantec Protection Network SaaS platform.
Symantec will create a new SaaS product group with both companies’ assets to accelerate the development of new SaaS products.
