CUPERTINO, Calif. - July 17, 2002 - Symantec Corp. (Nasdaq: SYMC) today announced the acquisition of Recourse Technologies for approximately US$135 million in cash. The acquisition will bring to Symantec true gigabit speed network intrusion detection with next generation hybrid technology and the industry's leading "honeypot" solution. The acquisition, conditioned upon customary regulatory approvals, is expected to close by mid-August 2002.
"With many companies moving to high-speed backbones, the need for gigabit speed network intrusion detection has become critical," said John W. Thompson, Symantec chairman and chief executive officer. "Recourse's current products have demonstrated performance at speeds over a gigabit with high detection rates and low false positives."
"We have developed next generation intrusion detection technology with protocol anomaly detection and behavioral flow techniques to detect, analyze and respond to attacks before they become a problem," said Frank Huerta, Recourse president and chief executive officer. "We will be able to leverage Symantec's global scale and brand strength necessary to take ManHunt to new heights in the market."
This combination will bring to customers Symantec's industry-leading host-based intrusion detection solution, Intruder Alert, and the leading gigabit network intrusion detection system, ManHunt, for the most comprehensive, real-time preventive protection.
ManHunt, Recourse's gigabit speed network intrusion detection, uses an array of detection methodologies to deliver the most comprehensive solution for identifying and containing attacks. Its advanced hybrid detection compatibility combines protocol anomaly detection, traffic rate monitoring, protocol state tracking, and IP packet reassembly to provide a level of detection superior to other, signature-based systems. These detection capabilities can identify threats in real time, even on fully saturated high-speed gigabit networks.
In addition, the acquisition brings Recourse's ManTrap into Symantec's portfolio. ManTrap provides a unique approach for identifying and containing internal and external threats by providing an early warning system that can surface an attack on a false system before it hits a real system. Administrators can analyze the attacker's actions, motivations and methods in the "honeypot" or decoy system to prevent intrusions to real systems, or terminate the session immediately.
ManHunt and ManTrap will become integral components of Symantec's enterprise security solutions, which provide any size organization with the technology, global response and services necessary to manage its information security. Symantec's comprehensive solution offers best-of-breed products to protect gateways, servers, and clients with firewall security, virus protection, content filtering, intrusion detection, vulnerability management and virtual private networking (VPN). Customers benefit from Symantec's global network of researchers that provide customers with around-the-clock, immediate response to any new security-related attacks. Symantec's enterprise security customers are also supported by one of the largest professional security organizations in the world, offering security consulting, security education and managed security services.
Symantec has scheduled a conference call for 5 p.m. EDT today to discuss fiscal first quarter results and the acquisition. Interested parties may access the conference call on the Internet at www.symantec.com/invest/ . To listen to the live call, please go to the Web site at least 15 minutes early to register, download and install any necessary audio software. In addition, conference call numbers are available. The listen-only number for domestic callers is 1-800-967-7184, while international listeners can dial 719-457-2633. A replay of the call will be available on the Internet at www.symantec.com/invest/ until Aug. 14, 2002.
About Recourse Technologies
Recourse Technologies is the leading provider of the threat management solutions that detect, analyze and respond to both known and novel threats, including intrusions, internal attacks and denial of service attacks. With Recourse's advanced intrusion detection solutions ManHunt and ManTrap, businesses gain the time and information critical for enabling secure and uninterrupted business operations. To learn more about managing network threats, visit the web site at www.recourse.com or call 1-877-786-9633.
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 Symantec’s previously filed Form 10-K and Form 10-Q.