Symantec Makes Aggressive $695m Bet on Cloud Computing

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Symantec Makes Aggressive $695m Bet on Cloud Computing

Symantec intends to pair MessageLabs with its own fledgling SaaS platform, the Symantec Protection Network

By: Maureen O'Gara

Oct. 9, 2008 09:00 PM

Symantec is buying MessageLabs, the privately held online messaging and messaging security house, for about $695 million in cash, a mix of pounds and dollars, to advance its position in Software-as-a-Service (SaaS).

Symantec intends to pair MessageLabs with its own fledgling SaaS platform, the Symantec Protection Network, with its Online Backup, Online Storage for Backup Exec and Online Remote Access, to create a new SaaS product group that accelerates Symantec’s development of SaaS solutions and hybrid offerings.

It calls SaaS “one of the most impactful trends in software” and quotes IDC’s current SaaS market estimate of $16.98 billion by 2012, a 24.4% CAGR.

Symantec pointed out that its intended acquisition did $145 million in revenue in the year ended July 31 and was up by more than 20% year-over-year.

It described MessageLabs is the number-one provider of online messaging security worldwide with more than eight million end users at more than 19,000 clients ranging from small business to the Fortune 500. It intends to capitalize on that situation by cross-selling and up-selling its existing SaaS backup, storage and online remote access into MessageLabs’ customer base.

Symantec also figures that MessageLabs’ expertise in SaaS sales, operations and support will help it leverage its data loss prevention, compliance, endpoint security and archiving technology into SaaS.

In a canned statement Symantec CEO John W. Thompson said, “By combining MessageLabs with our Symantec Protection Network team, we have one of the strongest portfolios of cloud-based infrastructure services and a great foundation on which to grow.”

It expects MessageLabs’ 14 worldwide data centers to push the Symantec Protection Network into international markets.

Symantec figures to will wind up with broadest messaging security portfolio in the business including software, appliance and hosted services.

The deal should close by the end of December. It will cost two cents a share in fiscal 2009.

MessageLabs has some 512 employees spread across England, the US and Australia.

Published Oct. 9, 2008— Reads 2,004
Copyright © 2008 SYS-CON Media, Inc. — All Rights Reserved.
Syndicated stories and blog feeds, all rights reserved by the author.

About Maureen O'Gara
Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025.

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