Symantec to Sell to Vector

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, which is subject to certain customary conditions, it expected to close by the end of the first calendar quarter of 2008.

Vector Capital has a proven track record for building strong technology businesses out of divisions it purchases and will provide Symantec’s APM customers with a more dedicated focus and investment,” said Greg Butterfield, interim group president, Storage and Server Management Group, Symantec. “Selling the APM business will allow the Storage and Server management team to focus on securing and managing information.”

Symantec Corp.