Yet another successful Australian IT company has decided to sell the farm, with the country's largest antivirus vendor Cybec being acquired last week by international giant Computer Associates.
Cybec sells the popular VET antivirus product. Financial terms of the deal were not disclosed.
Ironically, according to Cybec CEO Chris Morison, the company accepted this offer after last year rejecting Network Associates' offer, because CA displayed a "more caring and sharing attitude" to maintaining all staff and keeping the intellectual property in Australia.
Over the years, CA has developed a reputation for its "slash and burn" acquisition tactics.
Morison said Cybec originally approached CA looking to secure an OEM partner, but instead CA made an offer to buy the company.
"This really was a very low-risk way of achieving our objectives," Morison said. "We've now achieved in six months what we were looking to achieve over the next couple of years."
According to Morison, Cybec had four long-term objectives; to provide opportunity for the staff to grow; to create wealth for the shareholders; to look after its customers; and to create on-going employment opportunities in Australia.
"We really needed a partner to go worldwide; somebody who had deep enough pockets to fund international growth. When CA made the offer, we looked at it, it looked like a good cultural fit and a good strategic offer.
"In terms of being Australian, the only thing that has changed from our point of view is who owns the company."
How true that is remains to be seen, though, as Yomesh Gupta, CA's senior vice president of product strategy made very clear that Cybec was now very firmly part of CA.
Much stronger product
He claimed combining the best technology from Cybec's VET product with CA's InnocuLAN would create a much stronger product. For the immediate future both products will be maintained, although they will share technology.
VET will be positioned as a desktop product; InnocuLAN as a server-centric product.
Gupta said CA was most interested in Cybec's people, research centre and technology as well as its customer base. He said all Cybec resellers would now be able to sell the broader portfolio of products from Computer Associates, and also indicated that Cybec distributor Q*Soft would be able to take on CA products.