Clearwell Systems Acquisition Completed, Symantec Announced
Clearwell Systems is no longer a privately-held company and that’s because it has been acquired by Symantec, company that specializes in providing antivirus, antispyware, and internet security software solutions. Back in May, Symantec announced that it entered a definitive agreement to acquire Clearwell Systems, a leader in the eDiscovery market, for about $390 million. At the time Symantec said that the acquisition was expected to be completed in the September quarter, pending customary closing conditions and regulatory approval. But it seems things have moved along faster than that.
Earlier this week Symantec announced that the acquisition of Clearwell Systems has been completed, meaning that Clearwell Systems is now part of Symantec, and more to the point, part of the Information Management Group led by Senior Vice President Deepak Mohan.
“With this acquisition, we will help customers reduce costs across all phases of information management for litigation, investigations and regulatory compliance,” said Deepak Mohan. “By adding Clearwell’s market leading eDiscovery solution to Symantec’s information management portfolio, we further increase Symantec’s ability to get the right information, to the right people, at the right time.”
Symantec explained in a press release that now that Clearwell Systems has been acquired, Symantec will provide one of the most comprehensive information management solutions on the market by integrating Clearwell Systems’ industry leading eDiscovery, archiving and backup offerings. Clearwell Systems’ eDiscovery solution will complement and enhance Symantec’s Enterprise Vault eDiscovery capabilities and will lead to the creation of a more complete end-to-end eDiscovery solution.
“Symantec’s acquisition of Clearwell is a perfect marriage between best of breed technologies,” said Shawn Waggoner, Director, Archiving and eDiscovery at Terremark. “Our company has achieved significant benefits by using Enterprise Vault and the Clearwell eDiscovery Platform. As Symantec continues to deepen the integration of the two products into a more complete solution, we look forward to providing this end-to-end archiving and eDiscovery solution to our customers to meet their legal and discovery needs.”
Earlier this week Symantec announced that the acquisition of Clearwell Systems has been completed, meaning that Clearwell Systems is now part of Symantec, and more to the point, part of the Information Management Group led by Senior Vice President Deepak Mohan.
“With this acquisition, we will help customers reduce costs across all phases of information management for litigation, investigations and regulatory compliance,” said Deepak Mohan. “By adding Clearwell’s market leading eDiscovery solution to Symantec’s information management portfolio, we further increase Symantec’s ability to get the right information, to the right people, at the right time.”
Symantec explained in a press release that now that Clearwell Systems has been acquired, Symantec will provide one of the most comprehensive information management solutions on the market by integrating Clearwell Systems’ industry leading eDiscovery, archiving and backup offerings. Clearwell Systems’ eDiscovery solution will complement and enhance Symantec’s Enterprise Vault eDiscovery capabilities and will lead to the creation of a more complete end-to-end eDiscovery solution.
“Symantec’s acquisition of Clearwell is a perfect marriage between best of breed technologies,” said Shawn Waggoner, Director, Archiving and eDiscovery at Terremark. “Our company has achieved significant benefits by using Enterprise Vault and the Clearwell eDiscovery Platform. As Symantec continues to deepen the integration of the two products into a more complete solution, we look forward to providing this end-to-end archiving and eDiscovery solution to our customers to meet their legal and discovery needs.”
