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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