Thursday, January 17, 2008

Symantec Sells Unit To Vector Capital

Cupertino-based Symantec said Thursday afternoon that it is in a definitive agreement to sell its Application Performance Management (APM) business to private equity firm Vector Capital. Financial terms of the deal was not disclosed. Symantec said that its APM business will become a new, stand-alone company called Precise Software Solutions Inc. the deal is expected to close in the first quarter of 2008.