Symantec 2004 Annual Report Download - page 60

«58»SYMANTEC CORPORATION
SafeWeb On October 15, 2003, we acquired SafeWeb, a provider
of SSL VPN appliances, for $27 million in cash, including minimal
acquisition-related expenses. We expect the acquisition to
strengthen our competitive position in the enterprise security
market by allowing us to offer SafeWeb’s Secure Extranet Appliance
technology designed to reduce the cost and complexity of deploying,
managing and maintaining secure access to remote users.
Nexland On July 17, 2003, we acquired Nexland, an Internet
security company whose Internet Protocol based networking
appliances are installed at enterprise branches and telecommuter
offices worldwide, for $21 million in cash, including minimal
acquisition-related expenses. We expect the acquisition to
strengthen our competitive position in the enterprise security
solutions market as it is expected to allow us to further develop
Symantec integrated solutions.
2004 Annual Report
FISCAL YEAR 2004 PURCHASE PRICE ALLOCATIONS
The following table summarizes the allocation of the purchase price, adjusted for revised estimates related to certain liabilities, for each
of the acquisitions during Fiscal 2004 (in thousands):
Acquired Deferred tax Other assets
Purchase Acquired product Other (liabilities) (liabilities),
(In thousands) price IPR&D rights Goodwill intangibles assets, net net
ON Technology $109,356 $ 1,110 $ 7,410 $ 86,016 $ 5,660 $ (5,260) $ 14,420
PowerQuest 154,347 1,600 19,600 119,922 2,400 (5,300) 16,125
SafeWeb 26,569 –1,000 21,603 –3,600 366
Nexland 20,891 1,000 1,000 20,791 60 547 (2,507)
Total $311,163 $ 3,710 $ 29,010 $248,332 $ 8,120 $ (6,413) $ 28,404
Our fiscal 2004 acquisitions were considered immaterial for pro
forma financial disclosure, both individually and in the aggregate.
FISCAL YEAR 2003 AQUISITIONS
During fiscal 2003, we acquired four privately-held companies for
a total of $382 million in cash, including acquisition-related expenses
resulting from financial advisory, legal and accounting services
and duplicate sites and severance costs. These acquisitions helped
strengthen our competitive position in the enterprise security
solutions and managed security services markets. The results of
operations of the acquired companies have been included in our
operations as of the dates of acquisition. These acquired companies
are included in our Enterprise Security segment, with the exception
of Riptech, Inc., which is included in our Services segment.
Riptech On August 19, 2002, we acquired Riptech, a provider of
scalable, real-time managed security services that protect clients
through advanced outsourced security monitoring and professional
services, for $148 million in cash, including $3 million of acquisition-
related expenses. During the 12 months subsequent to the acquisition,
we revised estimates related to certain liabilities, and as a result,
we decreased the purchase price and goodwill by $1 million.
Recourse On August 19, 2002, we acquired Recourse Technologies,
Inc., a provider of security threat management solutions that
detect, analyze and respond to both known and novel threats,
including intrusions, internal attacks and denial of service attacks,
for $139 million in cash, including $3 million of acquisition-related
expenses. During the 12 months subsequent to the acquisition,
we revised estimates related to certain liabilities, and as a result,
we decreased the purchase price and goodwill by $1 million.
SecurityFocus On August 5, 2002, we acquired SecurityFocus,
Inc., a provider of enterprise security threat management systems,
providing global early warning of cyber attacks, customized and
comprehensive threat alerts, and countermeasures to prevent
attacks before they occur, for $76 million in cash, including minimal
acquisition-related expenses. During the 12 months subsequent
to the acquisition, we revised estimates related to certain liabilities,
and as a result, we decreased the purchase price and goodwill by
an immaterial amount.
Mountain Wave On July 2, 2002, we acquired Mountain Wave, Inc.,
a provider of automated attack sensing and warning software and
services for real-time enterprise security operations management,
for $21 million in cash, including minimal acquisition-related expenses.