Symantec acquires PC for undisclosed amount
19 Aug 2008
Mumbai: Symantec Corporation has signed a definitive agreement to acquire PC Tools for an undisclosed sum, in a bid to strengthen its computer security suite. The transaction is expected to close by the end of 2008, subject to customary closing conditions and regulatory approvals.
PC Tools is a global provider of software products designed to protect the privacy and security of Windows computer users.
With the addition of PC Tools, Symantec's product portfolio will include PC utilities software and point security technologies. PC Tools will help Symantec expand its consumers reach in new emerging regional markets and will bring an array of go-to-market capabilities, that have been effective with consumers in many markets around the world.
According to Symantec, PC Tools will maintain separate operations within Symantec's consumer business unit. Simon Clausen, PC Tools, chief executive officer, will lead the team and report to Janice Chaffin, Symantec group president of consumer products.
PC Tools will continue to offer its products under the PC Tools brand and serve its customers through its existing partners and channels.
PC Tools is a privately held company headquartered in Australia, with offices in the US, the UK, Ireland and Ukraine. Its customers are spread across the world.
Symantec is one of the leading provider of security, storage and systems management solutions.
Headquartered in Cupertino, California, Symantec has operations in more than 40 countries.