Symantec to Wrap Up Axent Purchase

Symantec Corporation's $US975 million acquisition of Axent will be finalised this week laying down the foundations for the company's plans to increase market share in the Asia-Pacific region.

Speaking to Computerworld about the acquisition, Symantec's global chairman, president and CEO John Thompson said it is aimed at "re-tooling the company" to aggressively target the enterprise space.

"We have been repositioning ourselves over the last two years to provide a broader array of technology for the Internet through acquisitions, our sales and distribution channels and our new services offering; more than 85 per cent of our sales in the Asia-Pacific will be through partners," Thompson said.

He said the acquisition of Axent's enterprise e-business solutions will ensure 60 per cent of Symantec's revenues in 2001 will be secured by enterprise customers.

"Our focus on security services and consultancy will also contribute to this growth; finalisation of this transaction increases our market share worldwide from $US5 billion to $7 billion," Thompson said.

During his visit to Sydney last week Thompson met with IT parliamentary secretary Senator Ian Campbell and Opposition Spokeswoman on IT, Senator Kate Lundy.

He also held discussions with senior offices from the National Office for the Information Economy (NOIE) about Australia's IT agenda and believes industry should support moves to establish standards such as AS4444.

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