RealTime IT News

Symantec to Buy Privately-Held AppStream

Symantec Corp, the world's biggest security software maker, said on Wednesday it will buy AppStream, a developer of technology used to distribute computer programs across large networks.

Financial terms were not immediately available.

AppStream's investors include Draper Fisher Jurvetson, JK&B Capital, Goldman Sachs and Evergreen Partners, according to the privately held company's Web site.

Its technology helps companies distribute software across large networks, and helps administrators monitor usage of software, according to the Web site.

The two companies have been business partners since 2006 and expect the acquisition to close by the end of June, said Symantec spokeswoman Yunsun Wee.