MessageLabs buy gives Symantec access to SaaS
Symantec will acquire Web security and online messaging firm MessageLabs for $695 million, in what could prove the be the next round of consolidation in the IT security market. The deal gives Symantec access to MessageLabs software-as-a-service (SaaS) solutions portfolio.
Founded in 1999, MessageLabs claims it has 8 million end users at more than 19,000 clients, ranging from small business to the Fortune 500 companies; its customer-base extends across 86 countries. MessageLabs generated approximately $145 million in revenue during fiscal year 2008, ending July 31, 2008 and grew by more than 20 percent over the prior fiscal year.
“Symantec and MessageLabs have a common belief in the benefits of in-the-cloud services, and how they enable customers to be protected from threats and enforce policy,” claims MessageLabs’ chief executive Adrian Chamberlain.