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May 20, 2004
Symantec Buys Brightmail
Posted by Dana Blankenhorn
What happens when one of your favorite companies is bought by one of your least-favorite companies? (The image of a Symantec balloon is from a Brazilian blog.)
Well, you hope they overpaid, for starters. And in the case of Symantec's purchase of Brightmail, it's mission accomplished.
Symantec makes the Norton firewall and anti-virus tools that are so horrid I'm actually buying a new PC this week so I can get rid of them. Brightmail makes enterprise-class anti-spam systems, and has added a program to fight frauds like brand spoofing.
A great outfit, Brightmail, but $370 million for a company with trailing year revenues of $26 million? Even if it doubles that this year, and even if you're paying with stock, you're talking about paying over seven times revenues!
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Dana Blankenhorn has been a business journalist for over 25 years and has covered the online world professionally since 1985. He founded the "Interactive Age Daily" for CMP Media, and has written for the Chicago Tribune, Advertising Age, and dozens of other publications over the years.
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