Story updated with Symantec response.

MOUNTAIN VIEW, Calif. ( TheStreet) -- Symantec's ( SYMC - Get Report) shares surged on Wednesday following rumors that the security software maker could be an acquisition target for Microsoft ( MSFT - Get Report).

The software maker's stock closed up 61 cents, or 4.37%, at $14.58.

Symantec, which missed Wall Street's revenue estimate in its recent first-quarter results, is one of a number of security firms in the M&A spotlight following Intel's ( INTC) shocking $7.7 billion acquisition of McAfee ( MFE). Companies such as IBM ( IBM), Hewlett-Packard ( HPQ) and Dell ( DELL) have all been touted as potential buyers of security technology at a time when businesses are under intense pressure to lock down data.

A spokeswoman for Symantec said that the company does not comment on industry rumors or speculation. Microsoft has not yet responded to TheStreet's request for comment on this story.

--Written by James Rogers in New York.

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