Symantec buys encryption specialist PGP for $300M

    Date29 Apr 2010
    CategoryCryptography
    3218
    Posted ByAnthony Pell
    Symantec will acquire encryption specialist PGP and endpoint security vendor GuardianEdge Technologies for $300 million and $70 million respectively, the company said today. Both are privately held companies. Symantec said the deals are subject to regulatory approval but are expected to close by June.

    Symantec said the companies' combined specialties in standards-based encryption for e-mail, file systems, removable media and smartphones will complement its security offerings, such as its gateway, endpoint security and data-loss prevention software.

    Encrypting information offers a higher level of security in case data is lost or stolen.

    Symantec said it will standardize its products on PGP's key management platform, which allows administrators to centrally manage encryption tasks. That platform will be integrated into the Symantec Protection Center, a management console for its products.

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