Symantec snaps up crypto companies PGP, GuardianEdge
Computer security and backup giant Symantec has
bought a pair of encryption companies: GuardianEdge, for $70 million,
and PGP, for $300 million. GuardianEdge focuses on endpoint protection,
offering a range of products for encryption of hard disks, removable
storage, and smartphones. PGP offers both disk encryption and mail
encryption software, along with systems for managing PKI. Both companies
also have numerous existing government contracts.
Both companies already have OEM partnerships with Symantec, so effective integration into Symantec's existing software line-up is likely to be unproblematic. Symantec CEO Enrique Salem suggested that further integration with the company's existing backup, security, and Software as a Service products will be forthcoming.
Symantec has made many acquisitions in its past, including the record $13.5 billion purchase of backup company Veritas. The PGP and GuardianEdge purchases are the first major acquisitions in the encryption market.
With greater use of mobile devices, and increasing awareness of data loss, robust mobile encryption is of growing importance. Symantec said that integration of these new products will be instrumental in providing policy-driven data protection systems.
The deal is still subject to regulatory approval. If all goes well, it should complete in June.
- wong chee tat :)
Both companies already have OEM partnerships with Symantec, so effective integration into Symantec's existing software line-up is likely to be unproblematic. Symantec CEO Enrique Salem suggested that further integration with the company's existing backup, security, and Software as a Service products will be forthcoming.
Symantec has made many acquisitions in its past, including the record $13.5 billion purchase of backup company Veritas. The PGP and GuardianEdge purchases are the first major acquisitions in the encryption market.
With greater use of mobile devices, and increasing awareness of data loss, robust mobile encryption is of growing importance. Symantec said that integration of these new products will be instrumental in providing policy-driven data protection systems.
The deal is still subject to regulatory approval. If all goes well, it should complete in June.
- wong chee tat :)
