RealTime IT News

Symantec Buys @Stake

Anti-virus specialist Symantec late Thursday announced a deal to acquire privately held security consulting firm @Stake. Financial terms of the transaction were not released.

The deal, which is expected to close in October, signals a continuation of Symantec's multi-million-dollar shopping spree, which included the purchase of Riptech, Inc. for an estimated $145 million; Recourse Technologies for about $135 million; and SecurityFocus for approximately $75 million.

In addition, Symantec recently made purchases in the anti-spam sector, shelling out $370 million to acquire Brightmail and $28 million for TurnTide.

With @Stake, Symantec gets an influential security research and consulting firm with high-end clients in the banking and telecommunications sectors. The company has conducted software evaluation research for Microsoft , and it counts six of the world's top 10 financial institutions among its client base.

@Stake, which was backed by Battery Ventures and Madison Dearborn Partners, markets software for application protection. The company's flagship @stake LC 5 application lets IT admins audit and recover user and administrator passwords. It also hawks the @stake WebProxy tool that helps software developers and security professionals test and enhance the security of Web applications.

@stake is also known for its research work in finding and documenting security flaws in operating systems and application software.

Once the deal closes, Symantec said it would incorporate @Stake's products and services into its global professional services division.