May 21, 2004 — (WEB HOST INDUSTRY REVIEW) — Security software developer Symantec (symantec.com) announced this week that it intends to acquire anti-spam solution developer Brightmail (brightmail.com) in a cash deal valued at approximately $370 million. Symantec said the acquisition of Brightmail would complement its line of security products.
r
r
“Merging with Symantec reaffirms the vision we had when we founded Brightmail six years ago,” says Sunil Paul, founder of Brightmail. “We saw a business opportunity in protecting email users from the threat of spam and that opportunity has been realized.”
r
r
Symantec invested in Brightmail back in July 2000 and currently holds an 11 percent stake in the company. The deal is expected to close by early July upon regulatory approval, Symantec said.
r
r
Web hosting provider FatCow (fatcow.com) deployed Brightmail’s anti-spam solution last week.
