Security software giant Symantec to buy MessageLabs

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Consolidation is speeding up in the security software industry with the news that market leader Symantec is to acquire the online email filtering service MessageLabs for $695m. John Stokdyk reports.

Set up by brothers Ben and Jos White in Gloucestershire in 1999, MessageLabs is the world leader in online email and messaging security, supporting more than 2.5bn email connections. Symantec is paying nearly five times MessageLabs' revenues to 31 July 2008 of $145m, which grew by 20% from the previous year.

Once it gains regulatory approval, the deal is expected to complete by the end of the year. Symantec will integrate MessageLabs' services with its own online Symantec Protection Network to create a security software as a service (SaaS) product group. MessageLabs brings online email/s...

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