Symantec Buys PGP For $300 Million

symantec buys pgp for 300 million logo

Security software outfit Symantec is taking an aggressive step into the world of email and data encryption, announcing it is acquiring both email encryption pioneer PGP for some $300 million, along with the enterprise-oriented GuardianEdge for another $70 million. PGP was a pioneer in public-key cryptography, offering the first viable high-grade communication encryption products to users around the world—the PGP algorithm has been classified as munition by some nations—and currently offers a number of high-grade encryption products to enterprises and consumers. GuardianEdge specializes in encryption products aimed at enterprises looking to protect everything from data on servers to individual workstations, notebooks, and mobile devices. GuardianEdge had already partnered with Symantec on its Endpoint Encryption product.

Symantec says the acquisitions will bolster the company’s data security offerings to both consumers and enterprise customers, as well as advance its work in mobile and cloud computing arenas. With the additions of PGP and GuardianEdge, Symantec now claims it can offer the most comprehensive encryption and data loss prevention technologies onl the market.

“As information becomes increasingly mobile, it’s essential to take an information-centric approach to security,” said Symantec senior VP for enterprise security Francis deSouza, in a statement. “Our market-leading data protection solutions provide the intelligence for customers to better understand what data is important, who owns it and who accesses it.”

Symantec plans to standardize its product on the PGP’s key management platform, which will enable network administrators to effectively manage encryption tasks and policies. The PGP platform will be integrated into Symantec Protection Center, a management console for a variety of enterprise-oriented Symantec products.

Symantec has long been known for building its business by acquiring other successful operations and working them into the Symantec fold…or, in some cases, neglecting them and letting them wither. However, both these acquisitions seem key to Symantec’s broader enterprise plans: GuardianEdge has a well-established presence in the government market, and PGP has many years of momentum behind its products and an enormous customer base around the world.

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