Symantec buys ON Technology
ON message for $100m
Symantec today bought security management firm ON Technology for approx. $100 million cash.
ON Technology markets products for centralized and unattended management - including auto-discovery, OS and application deployment, ongoing updates such as patches, and software usage and license management - for sundry computing platforms and devices. Its technology automates functions such as OS migrations, software deployment, mobile and remote management, asset management, security and patch management and disaster recovery.
According to Symantec, ON Technology complements its enterprise security portfolio and will help it further its aims of developing an end-to-end management system.
The transaction is expected to close by March 2004.
Last week Symantec bought SSL VPN vendor SafeWeb for $26 million in a deal that closely followed its late September acquisition of storage management and disaster recovery firm PowerQuest Corp in an all-cash deal valued at $150 million.
Altogether Symantec has forked out $300 million in cash to boost its portfolio in the space of only six weeks, making the company the 'Roman Abramovich' of the network security world.
Last week, Symantec announced record results with revenues rising on the back of recent viral epidemics here. ®
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