Symantec Buys MessageLabs

Symantec has forked out a cool $695 million to purchase messaging and security company MessageLabs.

Security company Symantec has reached into its wallet and spent $695 million on MessageLabs, with plans to pull into technology into its Symantec Protection Network Team. MessageLabs is a messaging and security company.

MessageLabs customers will be moved to the Symantec Protection Network Team, then to a new Symantec SaaS (software-as-a-service) product group.

John W. Thompson, chairman and chief executive at Symantec, said:

"MessageLabs extends our investments in the SaaS segment and will allow us to offer our customers unprecedented choice from a single provider of message security solutions."

MessageLabs has 14 data centers around the globe, and this will mean that Symantec will be well positioned to expand its services internationally, especially as it recently acquired PC Tools.