Symantec to buy compliance specialist
Recently merged security giant plans to acquire Sygate, as it continues on its expansion spree.
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Sygate, based in Fremont, Calif., sells software to help customers comply with regulations by ensuring that servers, PCs and mobile devices meet security requirements. Its software also governs which devices are permitted access to which network resources. Sygate has about 200 employees, the representative said.
Terms of the deal were not disclosed, but a Symantec representative said Tuesday that the company paid cash for Sygate. The acquisition is expected to close after obtaining regulatory approvals.
Sygate is the latest in a series of acquisitions for Cupertino, Calif.-based Symantec. The most recent, completed last month, was the purchase of Veritas Software, which sells backup and management software.
The market for corporate software products is consolidating, and Symantec is among those bulking up. In addition to the $10.5 billion it paid for Veritas, Symantec spent nearly $500 million in the previous year to pick up TurnTide, Brightmail, On Technology and SafeWeb.