Updated from 11:32 a.m. EDT

Symantec ( SYMC) continued its push in the enterprise security market Monday, announcing its third acquisition in the last six weeks.

Symantec will pay $209 million, or $4 a share, for Houston-based BindView ( BVEW), a 14% premium to Friday's closing price. The companies expect to close the deal by the first quarter of 2006.

BindView's software is used to manage network and Internet security policies in large businesses.

Earlier, the Cupertino, Calif.-based company purchased two privately held companies -- WholeSecurity, which provides technology to defeat "phishing," which is a method of spoofing Web sites to trick users into giving away social security numbers and other proprietary data; and Sygate, whose technology is used to assure compliance with security policies.

Piper Jaffray analyst Gene Munster estimates that the WholeSecurity deal cost Symantec $30 million to $40 million; Sygate, he says, cost $70 million to $80 million.

If Munster's estimates are correct, Symantec has to spend approximately $320 million on the three purchases, which still leaves about $3 billion in cash on the balance sheet.

"We believe investors are overly focused on the changing dynamics in the consumer space and are missing Symantec's bigger strategy," Munster wrote in a note to clients.

"Symantec's strategy is to go beyond its consumer market leadership to be the dominant player in enterprise security," wrote the analyst, whose company does not have a current investment banking relationship with Symantec.

Investors have fretted over the slowing growth rate of Symantec's consumer business (although it did grow by 28% in the first quarter), and there are still worries that newly acquired Veritas will slow the company even further.

In recent trading, shares of Symantec were up 30 cents, or 1.32%, to $22.96.

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