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Symantec said Wednesdady that it has signed a definitive agreement to acquire Web security vendor MessageLabs for approximately $695 million in cash. The deal, subject to foreign currency adjustments, is scheduled to close by the end of 2008.
With MessageLabs' online messaging and Web security services, Symantec execs say that the company will gain significant marketshare in both Software-as-a-Service and messaging security segments -- two areas that have experienced rapid growth within the last year, execs say.
Symantec said Wednesdady that it has signed a definitive agreement to acquire Web security vendor MessageLabs for approximately $695 million in cash. The deal, subject to foreign currency adjustments, is scheduled to close by the end of 2008. 
