Connect with us

Hi, what are you looking for?

SecurityWeekSecurityWeek

Data Protection

Symantec to Acquire PGP Corporation and GuardianEdge

Symantec Corp. (Nasdaq: SYMC) today announced it would be making two key acquisitions, saying it has signed definitive agreements to acquire PGP Corporation and GuardianEdge Technologies, Inc., two privately-held leaders in the email and data encryption market. 

Symantec Corp. (Nasdaq: SYMC) today announced it would be making two key acquisitions, saying it has signed definitive agreements to acquire PGP Corporation and GuardianEdge Technologies, Inc., two privately-held leaders in the email and data encryption market. 

Symantec will acquire PGP Corporation for approximately $300 million in cash and GuardianEdge for approximately $70 million in cash.

The acquisitions will help position the company in the fast growing encryption market which, according to IDC, is estimated to reach $1.7 billion in 2013.Symantec PGP GuardianEdge

“As information becomes increasingly mobile, it’s essential to take an information-centric approach to security. Our market-leading data protection solutions provide the intelligence for customers to better understand what data is important, who owns it and who accesses it,” said Francis deSouza, senior vice president, Enterprise Security Group, Symantec. “With these acquisitions we can further protect information by using encryption in an intelligent and policy-driven way to give the right users access to the right information, enabling the trust that individuals and organizations need to operate confidently in an information-driven world. We’re now able to offer the industry’s most comprehensive solution across encryption and data loss prevention for protecting confidential data on endpoints, networks, storage systems and in the cloud.”

Following the acquisitions, Symantec plans to combine key features and functionality from each company’s products 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.

GuardianEdge, already a Symantec technology partner for Symantec Endpoint Encryption, will help the company expand in the government sector.

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

Advertisement. Scroll to continue reading.

The agreements are subject to customary closing conditions, including regulatory approvals, and are expected to close during the June quarter.

Written By

Click to comment

Trending

Daily Briefing Newsletter

Subscribe to the SecurityWeek Email Briefing to stay informed on the latest threats, trends, and technology, along with insightful columns from industry experts.

Learn how the LOtL threat landscape has evolved, why traditional endpoint hardening methods fall short, and how adaptive, user-aware approaches can reduce risk.

Watch Now

Join the summit to explore critical threats to public cloud infrastructure, APIs, and identity systems through discussions, case studies, and insights into emerging technologies like AI and LLMs.

Register

People on the Move

Robert Shaker II has joined application security firm ActiveState as Chief Product and Technology Officer.

MorganFranklin Cyber has promoted Nick Stallone and Ferdinand Hamada into newly created roles.

Jessica Newman has joined Sophos as General Manager of Global Cyber Insurance.

More People On The Move

Expert Insights

Daily Briefing Newsletter

Subscribe to the SecurityWeek Email Briefing to stay informed on the latest cybersecurity news, threats, and expert insights. Unsubscribe at any time.