Mergers and Acquistions News
Categories: Media & Information Services
April 27th 2009, 15:29PM
Symantec is to expand its security portfolio through the acquisition of Mi5 Networks, a US-based web gateway services provider.
The deal enables Symantec to offer new protection suites for small business and enterprise customers, adding fresh web security technology to its product folder.
According to Symantec, Mi5 provides one of the industry's most innovative approaches to gateway security, by providing streaming technology which examines traffic coming into and leaving the enterprise.
Francis deSouza, the senior vice president of the Enterprise Security Group at Symantec, says the firm's customers believe security solutions tied to several levels of protection offer the best return on investment.
"Moving forward, with the acquisition of Mi5's Web security technology, Symantec is further addressing the fastest growing path for malware to infect network environments," he added.
This month, Symantec reported it had extended its share in the storage software market, with a 15.1 percent year-on-year revenue growth in the sector, putting it ahead of competitors.
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