CUPERTINO, Calif. — Dec. 31, 1999 - - Symantec Corporation (Nasdaq: SYMC) today announced completion of the acquisition by SalesLogix Corporation (Nasdaq: SLGX) of the ACT! product line. The acquisition has received clearance from the Department of Justice for the Hart Scott Rodino anti-trust filing.
SalesLogix has acquired an exclusive license for ACT! and an option to purchase the product line at the end of the four-year license term for an aggregate purchase price, including quarterly royalties, of $60 million. Symantec has also received unregistered common stock in SalesLogix valued at $20 million.
SalesLogix has taken over all development, product management, marketing and support for ACT! effective as of the closing of the acquisition . Through March 31, 2000, SalesLogix will purchase sales, marketing and technical support services from Symantec to ensure a smooth transition for the existing customers.
Symantec, a world leader in Internet security technology, provides content security solutions to enterprise organizations and helps companies manage and support workforces that use computers and other mobile devices.
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