Symantec Announces Completion Of SalesLogix Acquisition Of Act!
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
NOTE TO EDITORS: If you would like additional information on
Symantec Corporation and its products, view the Symantec Press Center
on Symantec's Website.
Brands and products referenced herein are the trademarks or
registered trademarks of their respective holders. All prices noted are
in US dollars and are valid only in the United States.