Symantec, Nexland in acquisition talks
kapic
VICTORIA, B.C., Feb. 14 - Internet security companyNexland, Inc. , a maker of networking appliances, has signed a non-binding letter of intent to be acquired bySymantec Corp.for $21.7-million (U.S.) in cash. Nexland has had a joint development ...
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The Globe and Mail
VICTORIA, B.C., Feb. 14 - Internet security company Nexland, Inc., a maker of networking appliances, has signed a non-binding letter of intent to be acquired by Symantec Corp. for $21.7-million (U.S.) in cash. Nexland has had a joint development relationship with Symantec for two years, and Symantec currently licenses Nexland's technology for use in its Symantec Firewall-VPN Appliance series. Completion of the proposed transaction is subject to Symantec's due-diligence investigation, approval by both companies' boards of directors, negotiation and execution of a definitive acquisition agreement and possible approval of Nexland's stockholders. Based in Miami with offices in Victoria, Nexland Inc. makes security appliances for corporate branch offices and their telecommuters.