(WEB HOST INDUSTRY REVIEW) — Security firm Symantec (www.symantec.com) announced on Thursday it will acquire two data encryption companies for $370 million.
Symantec will pay $300 million in cash for PGP and $70 million in cash for GuardianEdge.
The agreements for the companies — which both provide technology for standards-based encryption of full-disks, removable media, files, folders and smartphones — are expected to close this quarter.
Once the acquisitions are completed, Symantec will combine the technology with its own to offer data encryption across different mobile devices associated to corporate networks.
The security firm will use technology from both companies and standardize it on the PGP encryption-key management platform, delivering centralized policy and key management abilities.
Symantec will then integrate the PGP platform into its Protection Center, which provides a range of services including threat, security and operational dashboards and reporting.
This will help Protection Center better manage endpoint security, prevent data loss and secure gateways, says the company.
PGP will also add enterprise, SMB’s and consumers to Symantec’s customer base, while GuardianEdge will increase Symantec’s presence in the government sector.
Once the acquisitions close, PGP and GuardianEdge will be a part of Symantec’s Enterprise Security Group.
The companies has already made a few acquisitions this year, acquiring Gideon Technologies in January to increase its risk management offerings for the public sector.
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