Security software maker Symantec Corp. announced Wednesday it is acquiring the anti-spam firm Brightmail Inc. in a cash deal valued at about $370 million. Symantec said the acquisition will complement its security products. Unsolicited e-mail, which has long been a nuisance because of its volume, is a growing security problem as the messages increasingly carry computer viruses.
"Merging with Symantec reaffirms the vision we had when we founded Brightmail six years ago," said Sunil Paul, the company's founder. "We saw a business opportunity in protecting e-mail users from the threat of spam and that opportunity has been realized." The acquisition is expected to close by early July, after regulatory approval, the companies said. Symantec said it would release more information on how the deal will affect its financial results at a later date. San Francisco-based Brightmail provides software that uses filters and other proprietary technologies to block spam at the customer's Internet gateway, the point at which Internet traffic enters the public network.
News source: eWeek