Symantec buys rival Axent

NEWS Anti-virus specialist Symantec has bought security rival Axent Technologies for $975m in stock. The acquisition will significantly expand Symantec's reach, taking the company into intrusion detection, vulnerability assessment and firewall protection. The company is also buying into Axent's strength in outsourced security services. John W Thompson, chairman, president and CEO of Symantec, said the move was an aggressive step forward in capturing the enterprise market. "As organisations continue to expand their ebusiness initiatives and open up their infrastructure through the Internet, we believe there will be an enormous market opportunity," he said in a statement. John C Becker, chairman and CEO of Axent, added: "Together we will span the needs of all customers from emerging businesses to the largest enterprises." Symantec is forecasting combined revenue of a $1bn over the next 12 months.