After a disappointing quarter in the enterprise storage space, Symantec has bought a management software provider in what the market is seeing as an oddly timed move to a broader suite of enterprise offerings.
Symantec is buying Altiris Inc. for about $830 million, according to a report at The Toronto Star this morning.
An analyst quoted by The Star suggests that after adjusting guidance and reporting a disappointing December, Symantec might be better served to focus on existing business than move toward expansion. And the market responded by dropping Symantec's stock price by about 25 cents.
Reports attribute Symantec's poor performance to slow sales in storage software. Symantec, still the dominant consumer security software provider, entered the storage sector with its high-profile acquisition of Veritas a couple of years ago.