Symantec Corporation announced the acquisition of SecurityFocus for approximately USD$75 million in cash. With this acquisition, Symantec claimed that it would be able to offer customers the most comprehensive, proactive early warning system across the broadest range of threats. The transaction is expected to close by early to mid-August 2002.
"SecurityFocus has established the most respected security community and developed one of the leading early warning systems for customers around the world," said John W. Thompson, Symantec chairman and chief executive officer. "This acquisition will broaden Symantec's leadership in Internet security response with the addition of the world's first global threat management system, the most complete vulnerability database and customisable alert services."
"We have developed our global threat management systems to provide customers with timely and actionable information relevant to their individual networks," said Arthur Wong, SecurityFocus co-founder and chief executive officer. "Combined with Symantec's antivirus expertise, intrusion detection solutions and back-end infrastructure, we can rapidly deploy the most comprehensive threat management solutions to our global customers worldwide."
SecurityFocus is believed to have developed the world's most comprehensive and up-to-date database of vulnerabilities available. Symantec will continue to license the Vulnerability Database to security product vendors, managed service providers and other organisations that use it to create powerful new security products and services for their customers.
In addition, Symantec will continue to manage the Bugtraq mailing list and the online security community under the SecurityFocus brand. It will continue to offer a forum for objective reporting by security experts on the latest IT threats and attacks as well as how to prevent security breaches.
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