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Symantec Puts Altiris Unit on the Block

Created: 16 Jan 2013 • 5 comments
Scott W. Allen's picture
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http://blogs.wsj.com/deals/2013/01/15/symantec-put...

By Anupreeta Das and Sharon Terlep

Security software company Symantec Corp. SYMC -0.19% has put Altiris Inc., a business it acquired for about $800 million in 2007, up for sale and is drawing interest from private-equity firms, people familiar with the process said.

Altiris, which provides IT management software that helps companies manage so-called “end point” connections such as laptops and mobile devices, is expected to fetch less than the amount it sold for, the people said.

Symantec paid $33 a share, or $830 million, for Altiris in 2007.

A Symantec representative didn’t respond to requests for comment Tuesday. (Update: a representative later declined to comment.)

The move to sell Altiris comes months after Symantec chairman Steve Bennett became chief executive in July, after former CEO Enrique Salem was removed amid the company’s underperformance. Mr. Bennett, a General Electric Co. GE +0.07% veteran who joined the board in 2010, has been leading a turnaround effort at the Mountain View, Calif. company that involves pruning bits and pieces of the business to focus on its main operations.

Symantec, with a market capitalization of around $14 billion, is best known as a provider of software that protects computers and networks from viruses and other threats. In 2005, it paid $13.5 billion to buy Veritas, branching out into the business of data storage management. However, that acquisition is widely seen as not having delivered the anticipated benefits.

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HXG's picture

This could be good news for Altiris,  going back to its roots and work on beating out Microsoft SCCM.  Perhaps development will go back to Utah.

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Tim.Jing's picture

This might be really good news for Altiris. I believe the original buy out was based on lawsuits betwen Altiris and Symantec, never was anything stretegic. But interesting to see where Symantec will go from here.

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Scott W. Allen's picture

Be sure to read the comments with link on WSJ site. They provide a different perspective.

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Pascal KOTTE's picture
Regarding this Rumour about Altiris for sale, it was a rumour:
see 
;-)

~Pascal @ Kotte.net~ Do you speak French? Et utilisez Altiris: venez nous rejoindre sur le GUASF

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Scott W. Allen's picture

Translation: "We couldn't find a buyer".

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