1/4/2006

Symantec buys IMlogic in all-cash deal

Filed under: — By Aviran Mordo @ 4:18 am

Security company Symantec leaped into the nascent market for protecting instant messaging systems on Tuesday, announcing that it has agreed to acquire IMlogic, one of the sector’s top players.

Financial terms were not released. But Carlin Wiegner, a senior director of Web security at Symantec, said in an interview with CNET News.com that the Cupertino, Calif.-based company has agreed to pay all cash for 100-employee IMlogic, and expects the deal to close later this quarter.

IMlogic, headquartered in Boston, sells the IM Manager software, which promises to safeguard public and corporate IM networks while providing companies with a means to monitor and archive IM traffic.

Source: News.com

 

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