Symantec to buy PC Tools

Security software giant Symantec has agreed to acquire consumer security specialist PC Tools.

The deal will give Symantec greater reach in the consumer security market, an area which has traditionally been one of its weak points.

Under the deal, PC Tools will remain intact and operate as a subsidiary of Symantec's consumer business unit. PC Tools chief executive Simon Clausen will remain in charge of the unit's operations.

"We are excited to welcome PC Tools into the Symantec consumer family," said Janice Chaffin group president of consumer products at Symantec.

"We believe that the combination of our two companies will provide additional value and choice for consumers worldwide to better enable and protect their digital life.

"By adding PC Tools, we build on the market-leading success of Symantec's consumer offerings and firmly position ourselves for continued incremental growth in a rapidly expanding market."

Terms of the deal were not disclosed. Symantec hopes to close the transaction by the end of the year.

See also:

McAfee to snap up Reconnex for $46m

Security vendor strengthens data leak prevention portfolio  01 Aug 2008

Breakthrough in Trend Micro/Barracuda showdown

Prior art could break Trend's patent case  25 Jun 2008

Enterprise security software market booms

Sales up nearly 20 per cent  18 Jun 2008

Spammers exploiting credit crunch

Slow economy fuels financial spam runs  06 Jun 2008

Public demands data breach legislation

Overwhelming majority would want to know if their details were lost or stolen  06 Jun 2008

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