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Symantec Makes Two Acquisitions
Doug Caverly
Staff Writer
2010-04-30
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In exchange for a good deal less than $400 million, Symantec is becoming a bigger, better security company. Symantec announced yesterday that it has acquired GuardianEdge and PGP Corporation for about $70 million and $300 million, respectively.
 | | Symantec Makes Two Acquisitions |  |
GuardianEdge has declared itself "the leader in endpoint data protection for the enterprise," which is no insignificant thing. PGP, meanwhile, has labeled itself "a global leader in email and data encryption software," which also sounds impressive.
All in all, then, Symantec expects to have "the broadest set of integrated data protection solutions" once the company manages to get all of its existing and newly-acquired ducks into a proper row. Plus it expects that these moves will give it a serious edge in the encryption market.
And the good news for Symantec (along with its customers) is that meshing everything together shouldn't take long, since both GuardianEdge and PGP deal in standards-based technology.
Unfortunately for the company, it seems possible that not all of its shareholders are in favor of these acquisitions, as Symantec's stock has fallen 2.01 percent so far in trading today. (The Nasdaq's only dropped 1.53 percent by comparison, while the Dow's just down 1.03 percent at the moment.)
About the Author:
Doug is a staff writer for SecurityProNews, InternetFinancialNews, SearchNewz, and WebProNews.
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