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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): DECEMBER 31, 1999
COMMISSION FILE NUMBER 0-17781
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SYMANTEC CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE 77-0181864
(State or other jurisdiction of (I.R.S. employer
incorporation or organization) identification no.)
20330 STEVENS CREEK BLVD.
CUPERTINO, CALIFORNIA 95014-2132
(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code: (408) 253-9600
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Item 5. Other Events - Exclusive License and Option to Purchase ACT!
On December 31, 1999, pursuant to an exclusive Software License Agreement
("Agreement") dated December 6, 1999, by and among Symantec Corporation, a
Delaware corporation, and Symantec Limited, an Irish corporation (collectively
"Symantec"), and SalesLogix Corporation ("SalesLogix"), a Delaware corporation,
Symantec licensed certain technology and completed the transfer of certain
assets and liabilities of the ACT! product line to SalesLogix. In consideration
for the aforementioned, SalesLogix transferred to Symantec 623,247 shares of its
unregistered Common Stock. The shares were valued at approximately $20,000,000
as of December 6, 1999. The transferred assets primarily consist of fixed
assets. The ACT! technology has been licensed to SalesLogix on an exclusive
basis for a period of four years.
In addition to the shares received from SalesLogix, Symantec will receive
quarterly royalty payments for four years, beginning on or about March 31, 2000.
SalesLogix will pay royalties based on a formula set forth in the Agreement, up
to a maximum of $57 million. At the end of the four year period, SalesLogix has
the exclusive option, for a period of 30 days, to purchase the licensed
technology for $60 million less all royalties received from SalesLogix to date.
From December 31, 1999 to March 31, 2000, Symantec and SalesLogix will work
together in accordance with a transition agreement to ensure a smooth transition
of the operations to SalesLogix. As per the terms of the transition agreement,
SalesLogix will pay Symantec a fee for invoicing, collecting receivables,
shipping, and other operational and support activities until such time as
SalesLogix takes over these activities, but no later than March 31, 2000.
Item 7. Financial Statements and Exhibits.
(b) Pro forma financial information.
The Company has determined that pro forma financial information is not required
to be filed as a part of this Report on Form 8-K.
(c) Exhibits.
The following exhibit is filed herewith:
99.01 Software License Agreement, dated December 6, 1999, by and among
SalesLogix Corporation, a Delaware corporation, Symantec Corporation, a
Delaware corporation and Symantec Limited, an Irish corporation.*
* Registrant will furnish a copy of any omitted schedule or exhibit to the
Commission upon request.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Date: January 13, 2000 SYMANTEC CORPORATION
By /s/ John W. Thompson
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John W. Thompson
Chairman, President and
Chief Executive Officer
By /s/ Gregory Myers
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Gregory Myers
Chief Financial Officer and
Chief Accounting Officer
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Exhibit Index
99.01 Software License Agreement, dated December 6, 1999, by and among
SalesLogix Corporation, a Delaware corporation, Symantec Corporation, a
Delaware corporation and Symantec Limited, an Irish corporation.*
* Registrant will furnish a copy of any omitted schedule or exhibit to the
Commission upon request.