U.S. News

Symantec CEO Tells CNBC Altiris Acquisition Will Boost Sales


The chief executive of Symantec told CNBC that the planned $830 million acquisition of Altiris will boost the security software maker's long-term sales.

"This transaction gives us a large company with strong revenue growth and complementary technologies," said CEO John Thompson, appearing on CNBC's "Morning Call" on Monday.

Symantec to Acquire Altiris

"This gives us a complete technology portfolio that allows us to address a broader set of customers around the world."

Shares of Symantec fell after this morning's announcement while shares of Altiris surged. The takeover bid is valued at $33 a share, about a 22% premium over Altiris' closing stock price Friday.

Symantec, publisher of the Norton brand of computer security software, hopes the acquisition will help its customers better manage and enforce security policies at network endpoints, everything from laptops, desktops and mobile devices to servers and storage assets.

The deal is expected to close in the second quarter.