Symantec Merger With Axent Technologies Approved
Symantec Merger With Axent Technologies Approved By Shareholders
Creates Global Leader in Enterprise Security Solutions
AUCKLAND – Dec. 19, 2000 – Symantec Corp. (Nasdaq: SYMC) today announced that shareholders of both Symantec and AXENT Technologies voted and approved the merger of the two companies in a stock-for-stock deal that was originally announced on July 27, 2000. The merger will be completed when the filing of the merger certificate in Delaware becomes effective. Under the agreement, AXENT shareholders will receive, in a tax-free exchange, 0.50 shares of Symantec common stock for each share of AXENT common stock they own.
Historical pro-forma financials
on the combined company will be posted at
“The Internet and private networks are essential tools for all businesses,” said John W. Thompson, chairman, president and CEO of Symantec, “and standalone security products are no longer sufficient to prevent sophisticated intrusion and virus attacks. Enterprise customers are seeking best-of-breed security products that work well together, work well with products from other security vendors and are supported by integration services,” Thompson continued. “This merger catapults Symantec to a market leadership position and allows us to deliver to customers enterprise-class products and support, a global network of certified partners and a full range of security services.”
Symantec’s product offerings now include market-leading virus protection, firewall, intrusion detection and vulnerability management solutions. The company’s services offerings include security education and training, security assessment, technology implementation and managed security services. Forty-five of the top 50 U.S. corporations are currently using one or a combination of products supplied by both Symantec and AXENT. The expected revenue stream for the new company will make it the largest Internet security company in the industry.
Symantec, a world leader in Internet security technology, provides a broad range of content and network security solutions to individuals and enterprises. The company is a leading provider of virus protection, vulnerability assessment, intrusion prevention, Internet content and e-mail filtering, remote management technologies and security services to enterprises around the world. Symantec’s Norton brand of consumer security products leads the market in worldwide retail sales and industry awards. Headquartered in Cupertino, Calif., Symantec has worldwide operations in 36 countries including New Zealand. Symantec is represented in New Zealand by Auckland based distributors SealCorp and Tech Pacific. For more information, please visit our Web site at http://www.symantec.com/region/au_nz/