Symantec buys MessageLabs, does new deal with Dell

Some are feeling the pinch of the credit crunch and cutting their spending accordingly, others continue to spend, spend, spend. Symantec would appear to fall into the latter category as it has announced a definitive agreement to acquire online messaging and Web security specialist MessageLabs for a purchase price of around $695 million in cash. This breaks down to a couple of payments, one for $154 million in US Dollars and another for around £310 million in UK Pounds Sterling.