Symantec buy PGP Corporation and GuardianEdge
Symantec has announced that it has reached an agreement to acquire PGP Corporation for $300 million and GuardianEdge Technologies for $70 million. Both companies are privately held and the deals, subject to regulatory approval, are expected to be completed in June. Symantec say that the frequency and cost of data loss, combined with stricter regulations on privacy and a more mobile workforce has driven the need for encryption and that it feels the combination of PGP and GuardianEdge will give the company a comprehensive encryption solution.
The company says that it plans to integrate PGP's key management technology into its Symantec Protection Center and standardise on that technology in all of its products over time. Symantec currently OEM's GuardianEdge's technology in its endpoint encryption offerings and so it already has a level of integration with Symantec's offerings. Symantec plans to integrate GuardianEdge functionality into the PGP platform at some point in the future. Further details of he company's plans are available in an FAQ.