Symantec to Buy Axent

Symantec Corp., the largest maker of computer security software for consumers, agreed to buy rival Axent Technologies Inc. for about $975 million in stock to beef up its product line for businesses. Axent shareholders will get one-half of a Symantec share for each Axent share. The purchase comes as Symantec Chief Executive John Thompson refashions the maker of PC software such as Norton AntiVirus into a provider of security software and services to large companies. Axent offers software for blocking and monitoring hacker attacks on corporate networks, as well as a services organization that manages computer security for clients such as Xerox Corp. Shares of Cupertino, Calif.-based Symantec fell $13.44 to close at $50.25, while Rockland, Md.-based Axent jumped $4.94 to $24, both on Nasdaq.