10.08.2008 - Symantec to Extend Online Services with Acquisition of MessageLabs

CUPERTINO, Calif. - Oct. 08, 2008 - Symantec Corp. (Nasdaq: SYMC) today announced it has signed a definitive agreement to acquire MessageLabs, a leading provider of online messaging and Web security services. Under the terms of the agreement, Symantec will acquire MessageLabs for a purchase price of approximately $695 million in cash, subject to foreign currency adjustments, payable in approximately £310 million Pounds Sterling and $154 million US Dollars. MessageLabs generated approximately $145 million in revenue during fiscal year 2008, ending July 31, 2008 and grew by more than 20 percent over the prior fiscal year. The agreement is subject to customary closing conditions including regulatory approvals, and is expected to close by the end of the 2008 calendar year. - View Press Release - Visit Symantec Corp.