Symantec Acquires SafeWeb
Plans to Add Clientless VPN Technology to Symantec Gateway Security
CUPERTINO, Calif. - Oct. 20, 2003 - Symantec Corp. (Nasdaq: SYMC), the world leader in Internet security, today announced the acquisition of SafeWeb, Inc., a leading provider of SSL VPN appliances, for $26 million in cash. The acquisition brings to Symantec SafeWeb's Secure Extranet Appliance technology designed to reduce the cost and complexity of deploying, managing, and maintaining secure access to remote users.
Symantec intends to offer the SafeWeb SSL-based VPN technology on the Symantec appliance platforms as a standalone offering beginning in the first quarter of 2004. In addition, Symantec plans to integrate the clientless VPN capabilities into the next version of the Symantec Gateway Security Appliance series later in 2004.
"IT security professionals and network administrators are faced with an increasingly-complex array of solutions to address today's blended threats," said Gail Hamilton, Symantec's executive vice president of product delivery and response. "By integrating SafeWeb's clientless VPN technology into the Symantec Gateway Security Appliance, we can offer the most comprehensive protection without the need to deploy additional hardware at the gateway or software at the desktop."
"Working with Symantec, we can bring the SafeWeb technology to a broad range of customers from small businesses to large enterprises," said Jon Chun, SafeWeb president and CEO. "SSL VPN technology is a critical component in simplifying the challenges of secure remote access and streamlining collaboration across networking boundaries."
SafeWeb's SEA Tsunami is an SSL VPN appliance that enables companies to selectively grant secure remote access to network resources without the need to install additional software on the remote user's computer. Remote users can access virtually any application (Web, terminal, Outlook, Lotus Notes, legacy client/server) as well as email, file servers and printers. In eliminating the need for proprietary VPN client software, the SEA Tsunami drastically reduces the administrative cost and complexity traditionally involved in securing remote access while increasing ease of use and accessibility for end users.
SafeWeb designs secure remote access solutions that are effective, economical, and simple. Its mission is to drastically reduce the cost and complexity of securing corporate network resources for remote access. SafeWeb has been developing its award-winning technology since late 1999 and is a pioneer and leading provider of SSL VPN technology. The SEA Tsunami is a SSL-based VPN appliance that enables companies to quickly and easily extend secure remote access to employees, partners and customers anywhere, anytime without having to install any additional software on the user's computer.
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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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 Symantecís previously filed Form 10-K and Form 10-Q.
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