Symantec Acquires PGP, GuardianEdge

"Symantec is ramping up its encryption software portfolio with the acquisitions of PGP and GuardianEdge for $300 million and $70 million, respectively.

"The deals, which are expected to close later this year, are the latest signs that Symantec (NASDAQ: SYMC) executives believe that cloud-based storage and security options will be favored by enterprise customers in the future.

"Both of the newly acquired companies specialize in applications that protect data from being either intentionally or accidentally exposed by encrypting the data itself, whether it's hosted on premises, distributed through the cloud or moved about on any number of portable devices, such as smartphones or USB drives."

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