US Internet security systems vendor Symantec has signed a definitive agreement to acquire UK-based IT consultancy Company-i, which specialises in providing data centre risk management services for the financial services industry.
Financial terms of the deal were not disclosed but it is estimated that California-based Symantec will pay around $25 million for London-based Company-i, and a further $11 could be paid depending in a performance-based earn out.
Symantec says the acquisition extends its capability to help clients manage IT risk and cost levels in the data centre.
Commenting on the acquisition, Greg Hughes, executive vice president, global services, Symantec, says Company-i's consultants understand the data centre: "They help large enterprises reduce IT risk and costs by reducing infrastructure complexity, improving service management, and increasing automation."
Company-i will join Symantec's global services unit following the closing of the acquisition. Symantec says Company-i will help to extend the capacity and capability of the its Emea services team.