Unless the deal has fallen through over valuation, it’s increasingly likely that Symantec will announce its long-rumored acquisition of data-leakage prevention specialist Vontu tomorrow.
Symantec is slated to hold its second-quarter earnings conference call at the close of stock trading tomorrow. That would be as good at time as any to spring the news of its Vontu acquisition on the world.
Not many observers would be surprised. Rumors are premature reports of an acquisition announcement have been prolific during the past week or so, with several technology-related publications and websites taking positions on when the deal would go down.
Readers of this site — yes, all two of you — might recall that I mentioned talk of a Symantec acquisition of Vontu last year. The companies have been getting closer, technologically and otherwise, for some time. Symantec might have made this deal earlier, but it balked at the asking price Vontu and its agents had demanded.
Apparently things have changed. Recent reports have suggested that Symantec will pay up to $350 million for the privately held Vontu, which is said to have revenues of about $30 million.
Perhaps the ongoing consolidation in the space gave Symantec some buyer’s leverage.