Symantec Corp. (Nasdaq: SYMC) today announced it has signed a definitive agreement to acquire Vontu, the leader in Data Loss Prevention (DLP) solutions, for $350 million, which will be paid in cash and assumed options. The acquisition is expected to close in the fourth calendar quarter of 2007, subject to receiving regulatory approvals and satisfaction of other customary closing conditions.
Data loss prevention solutions help organizations prevent the loss of confidential or proprietary information wherever it is stored or being used. Vontu’s products will complement Symantec's existing portfolio of endpoint and network security, storage and compliance solutions, to provide customers with the most comprehensive platform for data loss prevention on the market today. The acquisition builds on Symantec’s strong partnership with Vontu and will provide an important component of Symantec’s Security 2.0 vision, which shifts the focus of security from simply securing systems and devices to also protecting the information itself.
"The combination of Symantec’s existing portfolio and Vontu’s leading products and dedicated team enables us to deliver a central component of our Security 2.0 vision to customers − information-centric security that protects both the device and the information itself," said Tom Kendra, group president, Security and Data Management Group, Symantec. "In a business environment that is increasingly competitive, transparent and regulated, companies need confidence that their most valuable asset – information – is safe. Only then will security become more of a business enabler rather than a business inhibitor."
Companies today are struggling to determine where their most sensitive information is stored, how it is being used, who has access to it and how to prevent it from being lost or compromised. To address the risk of data loss, organizations in every industry are adopting DLP solutions that enable them to find and protect sensitive data stored throughout the enterprise, monitor and prevent confidential data from being copied or sent outside the company and automatically enforce data protection policies.
"The next wave of security is based on one simple idea – it’s about the information," said Joseph Ansanelli, CEO, Vontu, Inc. "By joining forces with Symantec and building upon their strength in enterprise security and storage solutions, we will be uniquely positioned to help customers answer the important questions as to where their confidential information is stored, how it is being used, and how best to prevent its loss."
Symantec expects this transaction to be $0.02 dilutive to FY08 non-GAAP earnings per share and expects FY08 GAAP earnings per share to be more diluted due to purchase accounting, stock based compensation and acquisition related charges associated with the transaction.
Leading Solutions that Prevent the Loss of Confidential Data wherever it is Stored or Used
Vontu will bring a best-in-class DLP platform to Symantec’s already strong security and storage portfolio. Vontu’s Network and Endpoint Data Discovery and Protection solutions help organizations understand where confidential information is stored and quickly "find and fix" exposed data on servers, systems and endpoints. Vontu Data Monitoring and Prevention solutions stop confidential data from being sent outside the organization through email, web or IM. They also monitor and prevent confidential data on endpoints from being copied to removable media or downloaded to local drives. Vontu also offers a centralized platform with all of its products for policy management, detection, workflow and remediation.
For more information on how Vontu will complement Symantec’s existing offerings and planned integration between the portfolios, please visit: http://www.symantec.com/....
Conference Call
There will be an analyst and investor conference call conducted by management teams of both Symantec and Vontu to discuss the transaction, today at 2:00 p.m. PST/5:00p.m. EST. The live discussion can be accessed by dialing 877-419-6603 or 719-325-4903, passcode: 9387849. A webcast of the Symantec/Vontu analyst and investor conference call will also be available on the Internet at www.symantec.com/invest. There will be replay of the webcast available on the Web site for those shareholders and analysts who are unable to listen to the live call.
Additional Resources
For additional information on the Vontu acquisition please visit: http://go.symantec.com/vontu.
About Vontu
Vontu is the leading provider of Data Loss Prevention solutions that combine endpoint and network-based technology to accurately detect and automatically protect confidential data wherever it is stored or used. By reducing the risk of data loss, Vontu helps organizations ensure public confidence, demonstrate compliance and maintain competitive advantage. Vontu customers include many of the world's largest and most data-driven enterprises and government agencies. Vontu has received numerous awards, including IDG's InfoWorld 2007 Technology of the Year Award for "Best Data Leak Prevention," as well as SC Magazine's 2006 U.S. Excellence Award for "Best Enterprise Security Solution" and Global Award for "Best New Security Solution." For more information, please visit www.Vontu.com.
NOTE TO EDITORS: If you would like additional information on Symantec Corporation and its products, please visit the Symantec News Room at http://www.symantec.com/news. All prices noted are in U.S. dollars and are valid only in the United States. Symantec and the Symantec Logo are trademarks or registered trademarks of Symantec Corporation or its affiliates in the U.S. and other countries. Other names may be trademarks of their respective owners.
FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements within the meaning of U.S. federal securities laws, including expectations regarding the closing of Symantec’s acquisition of Vontu and the integration of its products and technologies into Symantec’s products and solutions and the expected impact of the acquisition on Symantec’s fiscal 2008 operating results, that involve known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied in this press release. Such risk factors include, among others, satisfaction of closing conditions to the transaction, our ability to successfully integrate the merged businesses and technologies, and customer demand for the technologies and integrated product offerings. Actual results may differ materially from those contained in the forward-looking statements contained in this press release. Additional information concerning these and other risk factors is contained in the Risk Factors section of Symantec's most recently filed Form 10-K. Symantec assumes no obligation to update any forward-looking statement contained in this press release. The contents of the Symantec website shall not be deemed incorporated by reference into this press release.
Data loss prevention solutions help organizations prevent the loss of confidential or proprietary information wherever it is stored or being used. Vontu’s products will complement Symantec's existing portfolio of endpoint and network security, storage and compliance solutions, to provide customers with the most comprehensive platform for data loss prevention on the market today. The acquisition builds on Symantec’s strong partnership with Vontu and will provide an important component of Symantec’s Security 2.0 vision, which shifts the focus of security from simply securing systems and devices to also protecting the information itself.
"The combination of Symantec’s existing portfolio and Vontu’s leading products and dedicated team enables us to deliver a central component of our Security 2.0 vision to customers − information-centric security that protects both the device and the information itself," said Tom Kendra, group president, Security and Data Management Group, Symantec. "In a business environment that is increasingly competitive, transparent and regulated, companies need confidence that their most valuable asset – information – is safe. Only then will security become more of a business enabler rather than a business inhibitor."
Companies today are struggling to determine where their most sensitive information is stored, how it is being used, who has access to it and how to prevent it from being lost or compromised. To address the risk of data loss, organizations in every industry are adopting DLP solutions that enable them to find and protect sensitive data stored throughout the enterprise, monitor and prevent confidential data from being copied or sent outside the company and automatically enforce data protection policies.
"The next wave of security is based on one simple idea – it’s about the information," said Joseph Ansanelli, CEO, Vontu, Inc. "By joining forces with Symantec and building upon their strength in enterprise security and storage solutions, we will be uniquely positioned to help customers answer the important questions as to where their confidential information is stored, how it is being used, and how best to prevent its loss."
Symantec expects this transaction to be $0.02 dilutive to FY08 non-GAAP earnings per share and expects FY08 GAAP earnings per share to be more diluted due to purchase accounting, stock based compensation and acquisition related charges associated with the transaction.
Leading Solutions that Prevent the Loss of Confidential Data wherever it is Stored or Used
Vontu will bring a best-in-class DLP platform to Symantec’s already strong security and storage portfolio. Vontu’s Network and Endpoint Data Discovery and Protection solutions help organizations understand where confidential information is stored and quickly "find and fix" exposed data on servers, systems and endpoints. Vontu Data Monitoring and Prevention solutions stop confidential data from being sent outside the organization through email, web or IM. They also monitor and prevent confidential data on endpoints from being copied to removable media or downloaded to local drives. Vontu also offers a centralized platform with all of its products for policy management, detection, workflow and remediation.
For more information on how Vontu will complement Symantec’s existing offerings and planned integration between the portfolios, please visit: http://www.symantec.com/....
Conference Call
There will be an analyst and investor conference call conducted by management teams of both Symantec and Vontu to discuss the transaction, today at 2:00 p.m. PST/5:00p.m. EST. The live discussion can be accessed by dialing 877-419-6603 or 719-325-4903, passcode: 9387849. A webcast of the Symantec/Vontu analyst and investor conference call will also be available on the Internet at www.symantec.com/invest. There will be replay of the webcast available on the Web site for those shareholders and analysts who are unable to listen to the live call.
Additional Resources
For additional information on the Vontu acquisition please visit: http://go.symantec.com/vontu.
About Vontu
Vontu is the leading provider of Data Loss Prevention solutions that combine endpoint and network-based technology to accurately detect and automatically protect confidential data wherever it is stored or used. By reducing the risk of data loss, Vontu helps organizations ensure public confidence, demonstrate compliance and maintain competitive advantage. Vontu customers include many of the world's largest and most data-driven enterprises and government agencies. Vontu has received numerous awards, including IDG's InfoWorld 2007 Technology of the Year Award for "Best Data Leak Prevention," as well as SC Magazine's 2006 U.S. Excellence Award for "Best Enterprise Security Solution" and Global Award for "Best New Security Solution." For more information, please visit www.Vontu.com.
NOTE TO EDITORS: If you would like additional information on Symantec Corporation and its products, please visit the Symantec News Room at http://www.symantec.com/news. All prices noted are in U.S. dollars and are valid only in the United States. Symantec and the Symantec Logo are trademarks or registered trademarks of Symantec Corporation or its affiliates in the U.S. and other countries. Other names may be trademarks of their respective owners.
FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements within the meaning of U.S. federal securities laws, including expectations regarding the closing of Symantec’s acquisition of Vontu and the integration of its products and technologies into Symantec’s products and solutions and the expected impact of the acquisition on Symantec’s fiscal 2008 operating results, that involve known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied in this press release. Such risk factors include, among others, satisfaction of closing conditions to the transaction, our ability to successfully integrate the merged businesses and technologies, and customer demand for the technologies and integrated product offerings. Actual results may differ materially from those contained in the forward-looking statements contained in this press release. Additional information concerning these and other risk factors is contained in the Risk Factors section of Symantec's most recently filed Form 10-K. Symantec assumes no obligation to update any forward-looking statement contained in this press release. The contents of the Symantec website shall not be deemed incorporated by reference into this press release.
