Symantec to Acquire ON Technology
ON Technology is Key Building Block to Symantec's Enterprise Administration
Business
CUPERTINO, Calif. and WALTHAM, Mass. - October 29, 2003 - Symantec and ON
Technology Corp. (Nasdaq: ONTC) today announced that their boards of
directors have approved the acquisition of ON Technology by Symantec in a
cash transaction valued at approximately US$100 million. ON Technology's
enterprise infrastructure management solutions will further strengthen
Symantec's existing enterprise administration business and provide an ideal
complement to the company's enterprise security business.
Under the terms of the agreement, ON Technology shareholders will receive
US$4 per share. The transaction is subject to customary closing conditions,
including ON Technology shareholder approval and regulatory approvals, and
is expected to close by March 2004.
"ON Technology's leading software distribution and configuration management
capabilities will be a critical component to the end-to-end management
system Symantec is establishing to help our customers build, manage, and
protect their IT infrastructures," said John G. Schwarz, Symantec president
and chief operating officer. "In addition, the partnerships ON has to
provide inventory and patch management are ideal complements to Symantec's
enterprise security portfolio, to help customers address the challenges of
recognising the holes in their IT environment and providing appropriate
remediation."
"Enterprise infrastructure management and enterprise security must be
intrinsically linked to protect today's networked environments against the
evolving threat landscape," said Robert L. Doretti, chairman, president and
chief executive officer of ON Technology. "By joining forces with Symantec,
we can provide customers with industry-leading management solutions that
take advantage of the most comprehensive source of threat and vulnerability
intelligence.
ON Technology solutions provide centralised and unattended management -
including auto-discovery, OS and application deployment, ongoing updates
such as patches, and software usage and license management - for a range of
computing platforms and devices. ON Technology's existing extensible and
standards based architecture allows existing Symantec Ghost users to
automatically deploy Ghost images and configuration changes-along with
application and security patches-from a single unified administration
console.
ON Technology's solutions automate OS migrations, software deployment,
mobile and remote management, asset management, security and patch
management and disaster recovery. It will play a significant role in
augmenting Symantec's enterprise administration offerings. Organisations
leverage the technology to significantly reduce IT costs, improve
availability and reliability of business-critical applications and systems,
and enhance both IT and end-user productivity.
About ON Technology Corporation
ON Technology empowers IT organisations and service providers to manage the
full lifecycle of their computing systems over large-scale corporate
networks. ON Technology's solutions are used to rapidly and reliably deploy
critical applications, operating systems, and content to desktops, mobile
PCs, handhelds, servers, retail point-of-sale (POS) terminals and banking
workstations. ON's management solution has been chosen by more than 1,000
enterprises worldwide to manage in excess of 1.2 million networked computer
systems. For more information visit ON Technology's web site at www.on.com
or call 800-767-6638.
About Symantec
Symantec, the world leader in Internet security technology, provides a broad
range of content and network security software and appliance solutions to
individuals, enterprises and service providers. The company is a leading
provider of client, gateway and server security solutions for virus
protection, firewall and virtual private network, vulnerability management,
intrusion detection, Internet content and e-mail filtering, remote
management technologies and security services to enterprises and service
providers around the world. Symantec's Norton brand of consumer security
products is a leader in worldwide retail sales and industry awards.
Headquartered in Cupertino, Calif., Symantec has worldwide operations in 36
countries. For more information, please visit www.symantec.com.au
NOTE TO EDITORS: If you would like additional information on Symantec
Corporation and its products, please view the Symantec Press Center
atSymantec and the Symantec logo are trademarks or registered trademarks, in
the United States and certain other countries, of Symantec Corporation.
Additional company and product names may be trademarks or registered
trademarks of the individual companies and are respectfully acknowledged.
|
