CUPERTINO, Calif. - July 2, 2002 - Symantec Corp. (Nasdaq: SYMC), the world leader in Internet security, today announced the acquisition of Mountain Wave, Inc., a leading provider of enterprise security management software and services, for $20 million in cash. The acquisition brings to Symantec the patent-pending CyberWolf technology designed to automate the detection of security incidents by the intelligent analysis of security events and alerts in real-time.
"IT departments today struggle with how to manage and respond to the wealth of information being generated by the various security applications deployed across the network," said Gail Hamilton, executive vice president of Symantec's product delivery and response organization. "The CyberWolf technology addresses those issues by reducing, correlating and prioritizing security events and alerts, giving enterprises the ability to respond and stop attacks in real-time."
"CyberWolf is next generation technology that goes far beyond existing event managers, taking data from multi-sensor, multi-vendor environments and automatically identifying true security incidents in real-time," said Juanita Koilpillai, Mountain Wave chairman and co-founder. "We have several successful implementations in the government market and believe that by joining the market leader in Internet security, we can translate that success into the broader enterprise market as well."
CyberWolf automatically monitors, filters, correlates and cross-correlates the analysis of event data generated in a multi-vendor, multi-sensor environment. The ability to cross-correlate data analysis enables the technology to prioritize the millions of events reported on a daily basis and identify the 6-10 true security events each day that require some form of human interaction. Using an internal knowledgebase, built on the expertise security analysts use in recognizing patterns of events and alerts, CyberWolf tracks, memorizes and matches patterns of attack that may be taking place over time from multiple sources.
The CyberWolf technology will become an integral component of Symantec's enterprise security solutions, which provide any size organization with the technology, global response and services necessary to manage its information security. Symantec's comprehensive solution offers best-of-breed products to protect gateways, servers, and clients with firewall security, virus protection, content filtering, intrusion detection, vulnerability management and virtual private networking (VPN). Customers benefit from Symantec's global network of researchers that provide customers with around-the-clock, immediate response to any new security-related attacks. Symantec's enterprise security customers are also supported by one of the largest professional security organizations in the world, offering security consulting, security education and managed security services.
About Mountain Wave, Inc.
Headquartered in Falls Church, Va., Mountain Wave, Inc. provides a new breed of automated attack sensing and warning software and services for real-time enterprise security operations management. The company's patent-pending software solution is highly-scalable and ideally suited for ROI-focused enterprises needing early detection of attacks from internal or external sources that elude preventative point products like firewalls, authentication servers, intrusion detection systems and other security devices located throughout the enterprise. CyberWolf solutions have been successfully implemented and rigorously tested by large government organizations including the DoD. For more information, please visit cyberwolftech.com.
Symantec is the world leader in providing solutions to help individuals and enterprises assure the security, availability, and integrity of their information. Headquartered in Cupertino, Calif., Symantec has operations in more than 40 countries. More information is available at www.symantec.com.
NOTE TO EDITORS: : If you would like additional information on Symantec Corporation and its products, please view the Symantec Press Center at http://www.symantec.com/PressCenter/ on Symantec's Web site. All prices noted are in US dollars and are valid only in the United States.
Symantec, the Symantec logo, VERITAS, and the VERITAS logo are trademarks or registered trademarks of Symantec Corporation or its affiliates in the United States and certain other countries. Additional company and product names may be trademarks or registered trademarks of the individual companies and are respectfully acknowledged.
FORWARD LOOKING STATEMENT: This press release contains forward-looking statements, including forecasts of future revenue and earnings per share, expected industry patterns, and other financial and business results that involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: the sustainability of recent growth rates, particularly in consumer products; whether certain market segments, particularly enterprise security, grow as anticipated; the positioning of Symantec's products in those segments; the competitive environment in the software industry; ability to integrate acquired companies and technology; ability to retain key employees; ability to successfully combine product offerings and customer acceptance of combined products; general market conditions, fluctuations in currency exchange rates, changes to operating systems and product strategy by vendors of operating systems; and whether Symantec can successfully develop new products and the degree to which these gain market acceptance. Actual results may differ materially from those contained in the forward-looking statements in this press release. Additional information concerning these and other risk factors is contained in the Risk Factors sections of Symantec’s previously filed Form 10-K and Form 10-Q.