December 3rd, 2007
Symantec borrows $200M to close Vontu deal
According to an 8-K filing, Symantec has borrowed $200 million under its $1 billion senior unsecured revolving credit facility to help finance its acquisition of DLP specialist Vontu.
The rate of interest on this $200 million revolving loan for the selected interest period is 4.707500 percent.
The $200 million will pay a big portion of Vontu’s $350 million price tag.
[ November 5, 2007: Symantec pulls trigger on Vontu deal ]
Now that the deal is closed, Symantec plans to fold Vontu’s endpoint, network and storage security technologies into its own Information Risk Management portfolio.
The Vontu team will operate as dedicated team within Symantec’s Security and Data Management Group, continuing to build on the Vontu DLP 8 product suite.
The acquisition follows Trend Micro’s purchase of Provilla and McAfee’s $350 million deal to buy SafeBoot.
Ryan Naraine is a journalist and security evangelist at Kaspersky Lab. He manages Threatpost.com, a security news portal. Here is Ryan's full profile and disclosure of his industry affiliations.
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