Thursday, February 01, 2007

Hit #141 (Altiris)

Altiris (ATRS) is being acquired by Symantec for around $830 million in a cash deal. The offer, of $33/share, represents a gain of 77.6% over my average cost of $18.58/share.

I have mentioned Altiris repeatedly in the past as a target - here and here. I did not see Symantec as a buyer, and in fact still think that Macrovision or BMC could have made for a better fit, though there would be a lot of overlap with the former. In fact, there was some interesting price/volume action the day following the acquisition announcement, but whatever rumors may have led to that action must have died down soon.

With Altiris gone, I see Opsware (OPSW) as the last man standing in this sector. Fow how long is anybody's guess. I own Opsware shares, and, even with the current gains (~ 50%), I plan to hold on till the eventual buyout.

For Symantec, someone like Guidance Software (GUID), a recent IPO, would have been a better long-term fit.

Previous hit - USI Holdings (#140)

1 Comments:

At 5:41 AM, Blogger administrator said...

You may be interested in this site for detailed research and analysis of these deals: http://www.maresearch.com

 

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