Symantec Shells Out $370 Million For Data Encryption Companies PGP and GuardianEdge

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Security software giant Symantec has acquired two email and data encryption companies this morning. Symantec purchased PGP Corporation for approximately $300 million in cash and acquired GuardianEdge for approximately $70 million in cash. The deals are expected to close in June.

Clearly, both acquisitions aim to boost Symantec’s data encryption technology. Both PGP and GuardianEdge’s offerings include standards-based encryption capabilities for full-disk, removable media, email, file, folder and smartphone data.

The two companies will become part of Symantec’s Enterprise Security Group. Symantec also intends to integrate the PGP key management platform into the Symantec Protection Center, which simplifies security information management by providing customers consolidated access to threat, security and operational dashboards and reporting.

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