Symantec to acquire BindView Development

Symantec to acquire BindView Development

The acquisition mode of some of the most popular tech companies out there continues with the latest announcement coming from the security application developers Symantec. The maker of the Norton range of security software has announced plans to acquire compliance specialist BindView Development. The deal is worth around USD 209 million and the deal would be completed in a cash transaction procedure.

BindView Development is a company based in Houston, Texas and it develops applications to automate policy and compliance management, vulnerability and configuration management, and directory and access management. Many companies around have come under pressure from the authorities to adopt such technologies so as to meet the latest regulations announced by the acts like Sarbanes-Oxley Act.

Symantec has been in acquisition mood since many months now. They recently acquired Sygate Technologies, another regulatory compliance specialist two months ago. In the month of July, they took over storage maker Veritas Software in a merger agreement giving them a strong foothold over the business of archiving data and e-mails.

The company expects to close this deal in the first quarter next year and it would require the approval of the authorities and shareholders. Symantec would then be integrating their new acquisition’ technologies in their own Symantec’s Enterprise Security Manger efforts.