Symantec buys BindView Development for US$209 million

Symantec buys BindView Development for US$209 million

Symantec plans to buy security compliance software company BindView Development.

Symantec will buy security compliance software vendor BindView Development for US$209 million in cash, it announced Monday.

The deal will close in the first quarter of 2006, subject to approval from regulators and shareholders, Symantec said.

The two companies provide software that may help businesses and government organizations comply with regulatory requirements such as the Sarbanes-Oxley Act and the Federal Information Security Management Act in the U.S., or the Basel II financial regulations in Europe.

Symantec's security systems use software agents to ensure compliance with security policies, while BindView's approach is agentless, Symantec said. The two approaches are complementary, it said. The agent-based approach is more suited to complex, mixed IT environments, while the agent-less model requires fewer staff to manage and is suited to companies with large numbers of similar systems spread across many sites, it said.

Last month, Symantec announced its intention to buy WholeSecurity, a company in Austin, Texas, that develops software for detecting new viruses based on their behavior, rather than their code.

In August, it bid for another security compliance software developer, Sygate Technologies.

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