CUPERTINO, Calif. (AFX) - Symantec Corp., publisher of the Norton brand of computer security software, said Monday it has agreed to buy software maker Altiris Inc. for about $830 million in cash.
The total value of the offer is net of Altiris' cash on hand. The bid is valued at $33 per share, about a 22 percent premium over Altiris' closing stock price of $27.14 Friday on the Nasdaq Stock Market.
Symantec said the acquisition will help its customers better manage and enforce security policies at network endpoints, everything from laptops, desktops and mobile devices to servers and storage assets.
The deal is expected to close in the second calendar quarter, subject to Altiris shareholder approval and other customary closing conditions.
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