Symantec acquisition of Altiris draws closer

Symantec has revealed that its proposed acquisition of the management software company, Altiris, is one step closer following the early termination of the waiting period imposed by the Hart-Scott-Rodino Antitrust Improvements Act.

The deal is worth around $830 million (£429 million) and is expected to close in the second quarter of 2007, on the satisfaction of certain conditions, including Altiris shareholder consent and regulatory approval in Germany.

The companies first announced the proposed transaction in January. Upon successful completion of the deal, Altiris stockholders will receive $33 (£17) per share of the corporation’s common stock in cash. The Utah-based business has strategic links with HP, Dell, Fujitsu Siemens, Intel and Cisco.

Symantec said the pending purchase of Altiris is part of its strategy to provide its customers with better management and enforcement of security policies at the endpoint.

Sign up to our newsletters