Symantec considering more acquisitions

Symantec considering more acquisitions

Security software maker Symantec has said that they are looking towards making more acquisitions to expand in the market.

The company however dismissed the rumors in the market that they are closing in on acquiring data-loss prevention software company Vontu.

Company CEO John Thompson said in a statement: “If I were to think about broad categories of technology where we have an interest they might include three or four important areas: data loss prevention, transaction-based security, server management, and then complementary services across those three software domains.”

Thompson further said: “Our industry is entering a very obvious phase of maturity where growth rates are starting to slow from the hectic pace of the 80s and 90s, and therefore strong companies with strong balance sheets and strong cash positions and leadership technologies are looking to add components to their overall portfolio. As you look ahead you should assume that Symantec will continue to be an acquisitive company as we also match that acquisition strategy with 15 percent of revenue spent on internally developed products.”