Symantec borrows $200M to close Vontu deal

Summary:According to an 8-K filing, Symantec has borrowed $200 million under its $1 billion senior unsecured revolving credit facility to help finance its acquisition of DLP specialist Vontu.

Symantec borrows $200 million to pay for Vontu
According to an 8-K filing, Symantec has borrowed $200 million under its $1 billion senior unsecured revolving credit facility to help finance its acquisition of DLP specialist Vontu.

The rate of interest on this $200 million revolving loan for the selected interest period is 4.707500 percent.

The $200 million will pay a big portion of  Vontu's $350 million price tag.

[ November 5, 2007: Symantec pulls trigger on Vontu deal ]

Now that the deal is closed, Symantec plans to fold Vontu’s endpoint, network and storage security technologies into its own Information Risk Management portfolio.

The Vontu team will operate as dedicated team within Symantec’s Security and Data Management Group, continuing to build on the Vontu DLP 8 product suite.

The acquisition follows Trend Micro’s purchase of Provilla and McAfee’s $350 million deal to buy SafeBoot.

Topics: Security

About

Ryan Naraine is a journalist and social media enthusiast specializing in Internet and computer security issues. He is currently security evangelist at Kaspersky Lab, an anti-malware company with operations around the globe. He is taking a leadership role in developing the company's online community initiative around secure content managem... Full Bio

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