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Quick Hits: Symantec Nabs MessageLabs


Brief scrutiny of today's headlines.

Symantec (SYMC) is aggressively expanding its position in the software-as-service sector with the acquisition of MessageLabs.

The deal, expected to close by the end of the year, is valued at about $695 million in cash.

MessageLabs provides web security services to about 19,000 customers, ranging from small companies to Fortune 500 corporations, in 86 countries.

Symantec's Protection Network includes Online Backup, Online Storage for Backup Exec and Online Remote Access. MessageLabs' services help ensure that only safe and appropriate information enters and leaves a company's computer network.

Symantec's competitors include McAfee (MFE), which recently agreed to buy Secure Computing for $413 million. Microsoft (MSFT) and Trend Micro of Japan.
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