Symantec 2002 Annual Report Download - page 28

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Recent Acquisitions and Divestitures
Acquisitions
Since our initial public oÅering on June 23, 1989, we have completed acquisitions of 25 businesses.
Our recent acquisitions were as follows:
‚ Lindner & Pelc Consult GmbH in the September 2001 quarter;
‚ Foster-Melliar Limited's enterprise security management division also in the September 2001 quarter;
‚ AXENT Technologies, Inc. in the December 2000 quarter;
‚ 20/20 Software, Inc. in the March 2000 quarter;
‚ L-3 Network Security's operations, also in the March 2000 quarter; and
‚ URLabs in the September 1999 quarter.
We accounted for each of these acquisitions as a purchase and, accordingly, we have included the
operating results of these businesses in our consolidated Ñnancial statements since their respective dates of
acquisition. We have acquired several businesses in the past, including Peter Norton Computing, Inc. on
August 31, 1990. We continue to use the Norton brand name for certain consumer products developed and
marketed by us.
Divestitures
We divested our web access management product line on August 24, 2001 and the Visual Cafπe and
substantially all of the ACT! product lines on December 31, 1999. We have included the operating results of
these product lines prior to disposition in our Other segment. The divestiture of the Visual Cafπe and ACT!
product lines enabled us to focus our eÅorts and resources on our Internet security business. The Visual Cafπe
and ACT! product lines comprised a signiÑcant part of our business prior to their disposition.
For further discussion on our recent acquisitions and divestitures, see Note 3 of Notes to Consolidated
Financial Statements of this Form 10-K.
Sales and Marketing
We license our corporate and enterprise products through our distributors, corporate resellers, value-
added resellers and system integrator channels, in addition to our direct sales force.
We sell our consumer products to individuals and small oÇces/home oÇces around the world through a
multi-tiered distribution network. Our products are available to customers through channels that include:
distributors, retailers, mail order resellers, Internet-based resellers or ""e-tailers,'' original equipment manufac-
turers, educational institutions and Internet service providers. We also sell some of our products and product
upgrades through direct mail and over the Internet, in conjunction with channel partners.
We maintain distribution relationships with major independent distributors. Our indirect sales force
works closely with our major distributor and reseller accounts to manage the Öow of orders, inventory levels
and sales to customers. We also work closely with them to execute channel promotions and other marketing
activities associated with these promotions.
Our agreements with distributors are generally nonexclusive and may be terminated by either party
without cause. These distributors are not within our control and are not obligated to purchase products from
us. They also distribute other vendors' product lines. For information with respect to distributors that represent
more than 10% of our net revenues, see Note 17 of Notes to Consolidated Financial Statements of this
Form 10-K.
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