CUPERTINO, Calif. - Nov. 17, 2005 - Symantec Corp. (Nasdaq: SYMC) today announced that the waiting period imposed by the Hart-Scott-Rodino Antitrust Improvements Act concerning the proposed acquisition of BindView Corp. (Nasdaq: BVEW) has terminated. Completion of the transaction, expected during the first calendar quarter of 2006, still requires satisfaction of certain conditions, including BindView shareholder approval.
The companies announced on Oct. 3, 2005 a definitive agreement for Symantec to acquire BindView Development Corporation. The all-cash transaction is valued at approximately $209 million or $4 per share. Upon close of this acquisition, Symantec expects to provide a comprehensive end-to-end solution for policy compliance and vulnerability management, offering customers a choice of agent-based or agent-less technology architectures.
BindView Development Corporation is a global provider of IT security compliance software. BindView solutions remove barriers that limit an organization's ability to cost-effectively demonstrate due care and maintain compliance with IT security policies and regulatory mandates. BindView policy compliance, vulnerability and configuration management, and directory and access management software combines best-practice knowledge with automated controls to reduce risk and protect IT assets at the lowest cost across users, systems, applications and databases in multi-platform environments. More than 20 million licenses have been sold to 5,000 companies worldwide, spanning all major business segments and the public sector.
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.
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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.
Additional BindView Information and Where to Find It
BindView has filed a definitive proxy statement on Nov. 8, 2005, in connection with the proposed merger transaction. BINDVIEW URGES INVESTORS AND SECURITY HOLDERS TO READ THIS FILING BECAUSE IT CONTAINS IMPORTANT INFORMATION ABOUT THE MERGER. Investors and security holders may obtain a free copy of the definitive proxy statement and other documents filed by BindView with the Securities and Exchange Commission at the SEC's Web site: http://www.sec.gov. Free copies of the preliminary proxy statement and other documents filed by BindView with the SEC may also be obtained by directing a request to our investor relations contact Yvonne Donaldson at 713-561-4023.
In addition, BindView and its officers and directors may be deemed to be participants in the solicitation of proxies from the company's shareholders with respect to the proposed merger. A description of any interests that BindView's officers and directors have in the proposed merger is available in the preliminary proxy statement. Information concerning BindView's directors and executive officers is set forth in the company's proxy statement for the 2005 annual meeting of shareholders, which was filed with the SEC on April 29, 2005, and the company's Annual Report on Form 10-K filed with the SEC on March 15, 2005.
These documents are available free of charge at the SEC Web site at www.sec.gov or by going to the BindView Investor Relations page on the company's corporate Web site at www.bindview.com/Company/IR/SECfilings.cfm.