Symantec/AXENT Acquisition Clears Hart Scott Rodino Review
CUPERTINO,Calif. -Sep. 06, 2000- Symantec Corp. (Nasdaq: SYMC) and AXENT Technologies, Inc. (Nasdaq: AXNT) today announced that the 30-day waiting period imposed by the Hart-Scott-Rodino Antitrust Improvements Act concerning the proposed acquisition by Symantec of AXENT expired on Sept. 3, 2000 at 11:59 p.m. Completion of the transaction, expected by the end of calendar year 2000, still requires satisfaction of certain conditions, including obtaining shareholder approvals of both companies.
The companies announced on July 27, 2000, that Symantec agreed to acquire AXENT in a stock-for-stock transaction. Under the agreement, AXENT shareholders would receive in a tax-free exchange 0.50 shares of Symantec common stock for each share of AXENT common stock they own.
AXENT Technologies, Inc., a global leader in information security, provides e-security solutions that maximize its customers' business advantage. AXENT delivers integrated products and expert services to assess, protect, enable and manage business processes and information assets, as well as to facilitate Trust Level Management ™ within its customers' environments. Through its unique Lifecycle Security ™ Methodology, combined with Smart Security Architecture, AXENT delivers the "right" level of trusted e-security for customers. Award-winning solutions offer assessment and policy compliance, firewall, intrusion detection, authentication and authorization technology, virtual private networking, Web access and single sign-on for enterprises and e-businesses.
Headquartered in Rockville, MD, AXENT's customer-proven information security solutions are used by 45 of the Fortune 50, one-third of the Fortune e-50, and governments worldwide. Contact AXENT via e-mail at email@example.com or visit AXENT's World Wide Web site at http://www.axent.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:
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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.
AXENT, AXENT Technologies, the AXENT logo, Enterprise Security Manager, trust level management, and Lifecycle Security are trademarks or registered trademarks, in the United States and certain other countries, of AXENT Technologies, Inc. or its subsidiaries.
FORWARD LOOKING STATEMENT: This press release contains forward-looking statements. There are certain important factors that could cause the parties' plans to differ materially from those anticipated by some of the statements made above. Among these is the possibility of a party failing to meet certain conditions set forth in the merger agreement. Additional information concerning that and other factors is contained in the risk factor sections of Symantec's annual report on Form 10-K for the fiscal year ended March 31, 2000 and quarterly report on Form 10-Q for the quarter ended June 30, 2000, and AXENT's annual report on Form 10-K for the fiscal year ended December 31, 1999 and quarterly report on Form 10-Q for the quarter ended June 30, 2000.
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