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Symantec diversifies again, buys Altiris.

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| February 05, 2007 | COPYRIGHT 2009 G2 Computer Intelligence. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Although Symantec anticipates having to cut $200 million of its own costs, can 5% of its staff and buy back a billion-dollar worth of its stock to keep the price up, it's going to buy Altiris, the $200 million-a-year provisioning and management software house whose widgetry is sold by HP and Dell.

It will pay $830 million cash (that's net of the $200 million Altiris has in the bank), paying $33 a share, better than a 20% premium, out of the $3 billion it has socked away.

It's Symantec' biggest acquisition since it bought Veritas for $13.5 million two years ago, an unpopular, ill-fitting move that trashed Symantec's stock, a situation that continues. Wall …

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Source: HighBeam Research, Symantec diversifies again, buys Altiris.

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