Security specialist Symantec is buying Gloucester-based messaging and web
security specialist Messagelabs, in a deal worth $695m (£397m), subject to
regulatory approval.
The money will be paid in £310m sterling and $154m in US dollars.
Symantec said in a statement that the deal would give it leadership in the
software-as-a-service market and strengthen its lead in the messaging security
field.
It described Messagelabs as the number one provider of online messaging
security worldwide with more than 8 million users in more than 19,000 companies
of all sizes.
Symantec chief executive John W Thompson said the deal would give the
combined company "one of the strongest portfolios of cloud-based infrastructure
services and a great foundation on which to grow”.
Messagelabs was founded in 1999 by UK brothers Ben and Jos White and has 512
staff in ten countries worldwide.
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