Symantec To Acquire On Technology
ON Technology is Key Building Block to Symantec’s Enterprise Administration Business
CUPERTINO, Calif. and WALTHAM, Mass. – Oct. 27, 2003 – Symantec Corp. (Nasdaq: SYMC) and ON Technology Corp. (Nasdaq:
ONTC) today announced that their boards of directors have approved the acquisition of ON Technology by Symantec in a
cash transaction valued at approximately $100 million. ON Technology’s enterprise infrastructure management solutions
will further strengthen Symantec’s existing enterprise administration business and provide an ideal complement to the
company’s enterprise security business.
Under the terms of the agreement, ON Technology shareholders will receive $4 per share. The transaction is subject to
customary closing conditions, including ON Technology shareholder approval and regulatory approvals, and is expected to
close by March 2004.
“ON Technology’s leading software distribution and configuration management capabilities will be a critical component to
the end-to-end management system Symantec is establishing to help our customers build, manage, and protect their IT
infrastructures,” said John G. Schwarz, Symantec president and chief operating officer. “In addition, the partnerships
ON has to provide inventory and patch management are ideal complements to Symantec’s enterprise security portfolio, to
help customers address the challenges of recognizing the holes in their IT environment and providing appropriate
“Enterprise infrastructure management and enterprise security must be intrinsically linked to protect today’s networked
environments against the evolving threat landscape,” said Robert L. Doretti, chairman, president and chief executive
officer of ON Technology. “By joining forces with Symantec, we can provide customers with industry-leading management
solutions that take advantage of the most comprehensive source of threat and vulnerability intelligence.”
ON Technology solutions provide centralized and unattended management – including auto-discovery, OS and application
deployment, ongoing updates such as patches, and software usage and license management – for a range of computing
platforms and devices. ON Technology’s existing extensible and standards based architecture allows existing Symantec
Ghost users to automatically deploy Ghost images and configuration changes—along with application and security
patches—from a single unified administration console.
ON Technology’s solutions automate OS migrations, software deployment, mobile and remote management, asset management,
security and patch management and disaster recovery. It will play a significant role in augmenting Symantec's enterprise
administration offerings. Organizations leverage the technology to significantly reduce IT costs, improve availability
and reliability of business-critical applications and systems, and enhance both IT and end-user productivity.
About ON Technology Corporation
ON Technology empowers IT organizations and service providers to manage the full lifecycle of their computing systems
over large-scale corporate networks. ON Technology’s solutions are used to rapidly and reliably deploy critical
applications, operating systems, and content to desktops, mobile PCs, handhelds, servers, retail point-of-sale (POS)
terminals and banking workstations. ON’s management solution has been chosen by more than 1,000 enterprises worldwide to
manage in excess of 1.2 million networked computer systems. For more information visit ON Technology’s web site at
www.on.com or call 800-767-6638.
Symantec, the world leader in Internet security technology, provides a broad range of content and network security
software and appliance solutions to individuals, enterprises and service providers. The company is a leading provider of
client, gateway and server security solutions for virus protection, firewall and virtual private network, vulnerability
management, intrusion detection, Internet content and e-mail filtering, remote management technologies and security
services to enterprises and service providers around the world. Symantec’s Norton brand of consumer security products is
a leader in worldwide retail sales and industry awards. Headquartered in Cupertino, Calif., Symantec has worldwide
operations in 36 countries. For more information, please visit www.symantec.com.