Symantec has announced it is to spend $355 million on the acquisitions of three privately held security companies. The acquisitions of Riptech, Recourse Technologies and SecurityFocus are expected to boost Symantec’s operations in the intrusion detection and warning sector.
The acquisitions are part of Symantec’s continuing strategy of targeting the managed security services sector where the systems of large enterprises are scrutinized for human and automated Internet security breaches.
During the last quarter Symantec experienced a 39% rise in revenues. Symantec generated revenues of $316 million. The company also posted a net income of $56.6 million compared with a loss of $21.2 million for the corresponding period last year.