CUPERTINO, Calif. - June 24, 1998 - Symantec Corporation (NASDAQ:SYMC), the world leader in utility software for business and personal computing, today announced that it has purchased the assets of Binary Research Limited, the Auckland, New Zealand-based company that developed Ghost. The $27.5 million acquisition of Ghost, the industry leading disk cloning technology, enhances Symantec's solutions for corporate customers by providing them with software tools that help to manage personal computer (PC) systems more effectively and cost efficiently.
Ghost is the clear leader in the disk cloning market with more than 3.5 million seats installed in the last 18 months. The product is used by more than half of the Fortune 500. Following Symantec's recent alliance with IBM, this announcement further enhances the company's strategy for serving corporate customers. The addition of Ghost to the Norton product family strongly supports Symantec's vision of making its customers as productive as possible and keeping their computers safe and reliable. The acquisition, which is non-dilutive, will also help Symantec reach its ongoing growth objectives. The company expects that between $12 - $14 million of the purchase price will be expensed as in process R & D.
Customers use Ghost to more efficiently roll out and standardize new PCs, as well as upgrade current PCs. VARs and configuration centers use Ghost to apply a customer-defined image onto PC hard drives before they are sent to the customer. University computer labs and computer training centers use Ghost to "reset" many PCs to a known configuration at the end of each day. PC manufacturers also use the product to speed the process of applying an image to many new PCs.
Symantec will incorporate Ghost into other upcoming corporate solutions. The company plans to release a Norton-branded product in the September quarter with European and Asian Double-Byte Character Set localized product to follow thereafter.
"Corporations suffer a tremendous amount of wasted productivity when they rollout out new PCs, whether it is 100 or 100,000, by manually installing the operating system and applications on each system," said Enrique Salem, vice president of Symantec's Security and Assistance Business Unit. "Our customers have clearly communicated a tangible need to address this problem. The addition of Ghost to our corporate solution set will help our customers make the rollout process faster, more efficient and reliable, resulting in reduced cost of ownership and increased productivity."
"The combination of Symantec and Ghost will greatly benefit the disk cloning market," said Murray Haszard, president of Binary Research Limited. "There is exciting synergy at work here and Symantec's ability to more broadly market the product means that significantly more corporations and customers will benefit from Ghost's technology."
Haszard will remain with Symantec as general manager of the Ghost business, reporting to Enrique Salem. The Auckland, New Zealand facility will remain open as a development site.
Symantec is the world leader in utility software for business and personal computing. Symantec products and solutions help make users productive and keep their computers safe and reliable anywhere and anytime. Symantec offers a broad range of solutions and is acclaimed as a leader in both customer satisfaction and product brand recognition. Symantec is traded on Nasdaq under the symbol SYMC. More information on the company and its products can be obtained at www.symantec.com.
NOTE TO EDITORS: If you would like additional information on Symantec Corporation and its products, view the Symantec Press Center at www.symantec.com/PressCenter/ on Symantec's Website.