Symantec to Sell Application Performance Management Business to Vector Capital; Vector Capital to invest significantly in customer support, technology development, and sales and marketing of APM solutions.

0 Comments | M2 Presswire, January, 2008

M2 PRESSWIRE-18 January 2008-Symantec Corporation: Symantec to Sell Application Performance Management Business to Vector Capital; Vector Capital to invest significantly in customer support, technology development, and sales and marketing of APM solutions(C)1994-2008 M2 COMMUNICATIONS LTD

RDATE:17012008

CUPERTINO, Calif. -- Symantec Corp. (NASDAQ: SYMC) today announced that it has signed a definitive agreement to sell its Application Performance Management (APM) business to Vector Capital, a San Francisco-based private equity firm specializing in spinouts, buyouts and recapitalizations of established technology businesses. Upon closing, the APM business will operate as a new, stand-alone company called Precise Software Solutions Inc. The transaction,...