Symantec Enters Agreement to Acquire Clearwell Systems
Article by George Norman
On 23 May 2011
Symantec, company that specializes in providing antivirus, antispyware, and internet security software solutions, recently announced that it entered a definitive agreement to acquire Clearwell Systems, a privately-held company and a leader in the eDiscovery market. Symantec will pay approximately $390 million to acquire the company. The acquisition is expected to go through in the September quarter, pending customary closing conditions and regulatory approval.

In a press release Symantec explained that following the acquisition of Clearwell Systems it 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.

Advertising

Furthermore, by acquiring Clearwell Systems, Symantec’s addressable market opportunity will expand; Symantec will be able to better position itself as a leader in the fast-growing eDiscovery software market, a market that grows 14% per year and is estimated to reach $1.7 billion by 2014 according to Gartner.

“As information continues to grow at unprecedented rates, the biggest challenge for customers is to protect, manage and backup this information as well as have the ability to categorize and discover it efficiently,” said Deepak Mohan, senior vice president, Information Management Group, Symantec. “The acquisition of Clearwell’s market leading electronic discovery solution will further increase Symantec’s ability to get the right information, to the right people, at the right time, while reducing overall legal review costs and limiting risk.”

“Archiving and eDiscovery are two critical elements of information governance,” said Aaref Hilaly, president and chief executive officer, Clearwell Systems. “By joining forces and combining the industry’s leading archiving solution with the industry’s leading eDiscovery solution, we will be uniquely positioned to deliver a seamless, integrated information governance workflow, benefiting both Symantec and Clearwell customers.”



Tags: Symantec, Clearwell Systems, Acquisition
About the author: George Norman
George is a news editor.
You can follow him on Google+, Facebook or Twitter

I Hope you LIKE this blog post! Thank you!
What do YOU have to say about this
blog comments powered by Disqus
Popular News
By George Norman on 25 Nov 2014
Mozilla accepts Bitcoin donations as of today. And as of today, Firefox 34 starts rolling out to the public.
By George Norman on 24 Nov 2014
As part of its World AIDS Day 2014 Campaign, Apple set up Apps for (RED), a special section of the App Store that provides access to 25 fan-favorite apps. Said apps come with exclusive new content…
Related News
By George Norman on 02 Jun 2014
Apple recently announced that it will pay $3 billion for Beats Electronics, the company co-founded by Dr. Dre. As part of the acquisition, the legendary artist and producer...
By George Norman on 08 Aug 2014
Now that the Beats acquisition went through, Apple isn’t wasting any time in promoting Beats products. As a matter of fact, Apple added a Beats by Dr. Dre section on the accessories part of its online store.
By George Norman on 17 Sep 2014
Mojang, Swedish video game developer that is best known for the popular Minecraft game, is being acquired by Microsoft.
By George Norman on 23 Sep 2014
Adobe was glad to announce that it acquired Aviary, the photo-editing platform that powers lots of mobile applications, including the self-titled Aviary apps for iOS and Android.
Advertising
Hot Software Updates
Top Downloads
Become A Fan!
Link To Us!
Symantec Enters Agreement to Acquire Clearwell Systems
HTML Linking Code