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Symantec acquires PGP Corporation and GuardianEdge

April 2010 by Emmanuelle Lamandé

Symantec Corp. announced it has signed definitive agreements to acquire PGP Corporation and GuardianEdge Technologies, Inc.. Under the terms of the agreements, Symantec will acquire PGP Corporation for a purchase price of approximately $300 million in cash and GuardianEdge for a purchase price of approximately $70 million in cash. The agreements are subject to customary closing conditions, including regulatory approvals, and are expected to close during the June quarter.

By bringing together PGP and GuardianEdge’s standards-based encryption capabilities for full-disk, removable media, email, file, folder and smartphone, with Symantec’s endpoint security, data loss prevention and gateway security offerings, Symantec will have the broadest set of integrated data protection solutions. This portfolio will address the data protection needs of all major customer segments from the largest enterprises and governments to small businesses and individuals

Symantec expects these transactions to be 2 cents dilutive to non-GAAP earnings per share in fiscal year 2011 and accretive to its non-GAAP earnings per share in fiscal year 2012.

Consistent with Symantec’s strength in addressing heterogeneity in customer environments, PGP and GuardianEdge are committed to standards-based technologies, helping customers ensure broad compatibility and simplified management among deployments. Following the close of these transactions, Symantec intends to bring together key features and functionality from each company’s offerings and standardize on the PGP key management platform in order to deliver centralized policy and key management capabilities across the entire suite of encryption solutions.

Symantec also intends to integrate the PGP key management platform into the Symantec Protection Center, which simplifies security information management by providing customers consolidated access to threat, security and operational dashboards and reporting. Integrating the PGP key management platform into the Symantec Protection Center will further enhance the management of endpoint security, data loss prevention and gateway security products, which are also integrated with Symantec Protection Center, allowing customers to more seamlessly protect information.

PGP and GuardianEdge’s solutions are ideal for Symantec’s worldwide distribution network. PGP’s global customer base crosses enterprise, small and medium business and individuals. GuardianEdge, already a Symantec technology partner for Symantec Endpoint Encryption, provides strength in the government sector. The addition of encryption offerings will provide up-sell and cross-sell opportunities for Symantec’s sales team and extensive partner network as customers seek to conduct business with fewer vendors.

Upon close of the acquisitions, PGP Corporation and GuardianEdge will join the Enterprise Security Group led by Senior Vice President Francis deSouza.


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