SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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): SEPTEMBER 10, 1996
SYMANTEC CORPORATION
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(Exact Name of Registrant as Specified in Its Charter)
DELAWARE
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(State or Other Jurisdiction of Incorporation)
0-17781 77-0181864
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(Commission File Number) (IRS Employer Identification No.)
10201 TORRE AVENUE, CUPERTINO, CALIFORNIA 95014-2132
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(Address of Principal Executive Offices) (Zip Code)
(408) 253-9600
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(Registrant's Telephone Number, Including Area Code)
NOT APPLICABLE
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(Former Name or Former Address, if Changed Since Last Report)
INFORMATION TO BE INCLUDED IN THE REPORT
ITEM 2: ACQUISITION OR DISPOSITION OF ASSETS.
On September 10, 1996, Symantec Corporation, a Delaware corporation
("REGISTRANT" or "SYMANTEC"), completed an asset sale (the "ASSET SALE") of
the FormFlow family of electronic forms software programs and related
tangible assets of Symantec's wholly-owned Ontario subsidiary, Delrina
Corporation, and Delrina Corporation's subsidiaries (collectively,
"DELRINA"), to JetForm Corporation, a corporation organized under the laws of
Canada ("JETFORM"). The Asset Sale was effected pursuant to an Asset
Purchase Agreement dated as of September 10, 1996 by and between Delrina and
JetForm (the "ASSET PURCHASE AGREEMENT"). Under the Asset Purchase
Agreement, JetForm acquired Delrina's FormFlow electronic forms software and
workflow software product family, certain tangible assets relating to the
acquired products and access to all current Delrina electronic forms and
workflow software product customers, hired 65 Delrina employees and assumed
certain obligations relating to the acquired products and hired employees.
JetForm is responsible for technical and customer support of the acquired
products, provided that Delrina may be required to participate in such
support in certain instances. In connection with the Asset Purchase
Agreement, Delrina concurrently licensed from JetForm certain software
components contained in the products sold to JetForm for inclusion in
Symantec and Delrina products.
Pursuant to the terms of the Asset Purchase Agreement, JetForm is
obligated to pay Delrina approximately US $100 million over a period of four
years. JetForm is obligated to make payments on a quarterly basis in cash or
JetForm Common Shares (at JetForm's option) over the next four years. In
certain instances, JetForm may be able to set-off certain amounts payable to
Delrina. In addition, JetForm's ability to make quarterly payments to Delrina
will be subject to JetForm's overall financial condition at the time such
payments are due.
ITEM 7: FINANCIAL STATEMENTS AND EXHIBITS.
(a) FINANCIAL STATEMENTS OF BUSINESSES ACQUIRED.
Not applicable.
(b) PRO FORMA FINANCIAL INFORMATION.
Not applicable.
(c) EXHIBITS.
The following exhibits are filed herewith:
2.01 Asset Purchase Agreement dated as of September 10, 1996 by and
between Delrina and JetForm.
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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 hereunto duly authorized.
SYMANTEC CORPORATION
Date: September 24, 1996 By /s/ Robert R.B. Dykes
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Robert R.B. Dykes,
Chief Financial Officer
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INDEX TO EXHIBITS
Exhibit
Number Description of Exhibit
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2.01 Asset Purchase Agreement dated as of September 10, 1996 by and
between Delrina and JetForm.
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