Symantec buys up security minnows
Security specialist Symantec has been on a $355 million spending spree over recent months buying out competitors and complimentary businesses.
Security specialist Symantec has been on a $355 million spending spree over recent months buying out competitors and complimentary businesses. The three purchases it announced at the end of last week, illustrate the continued buoyancy of the security industry in the face of hard times for most of the IT sector.
The three companies concerned are Riptech, Recourse Technologies and SecurityFocus. Each has developed security solutions that are specific to areas of the Internet security market that Symantec felt it did not adequately cover. Riptech’s focus is on managed services for vertical sectors, whereas Recourse Technologies has developed gigabit speed intrusion detection as well as ManTrap, a ‘honey pot’ that traps intruders in a false network while administrators work out who they are and what they are trying to do. SecurityFocus’ particular strength lies in its vulnerability database that can identify attacks from their similarities to those logged elsewhere on similar systems or using the same security solutions. It also offers customisable alerts so administrators can devise a patch or work around before the problem becomes critical.
"Riptech has been identified as the clear leader in managed security services, with the strongest vision for the future of the industry. They bring a proven infrastructure along with industry-specific expertise in the power and energy, financial services, healthcare and telecommunications sectors that we can leverage worldwide," said John Thompson, Symantec chairman and chief executive officer.
"With many companies moving to high-speed backbones, the need for gigabit speed network intrusion detection has become critical," he continued. "Recourse's current products have demonstrated performance at speeds over a gigabit with high detection rates and low false positives."
"SecurityFocus has established the most respected security community and developed one of the leading early warning systems for customers around the world. 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 customizable alert services," he added.
All the deals are due to be finalised by the end of August and each of the companies is seeking to gain from Symantec’s global reach and well developed channel, according to their statements.
"The acquisitions we have announced bring next generation security technology, products and services that will help us to better serve the needs of our customers and continue to deliver strong top and bottom-line growth,” concluded Thompson.
The move is backed up by quarterly revenue of $316 million, a 39% growth over the same period last year.