symantec to buy pc tools

["Alex Eckelberry" <AlexE () sunbelt-software com>]

http://www.symantec.com/about/news/release/article.jsp?prid=20080818_02
 

CUPERTINO, Calif. - Aug. 18, 2008 - Symantec Corp. (Nasdaq: SYMC), today
announced it has signed a definitive agreement to acquire PC Tools
<http://www.pctools.com/> , a global provider of innovative software
products designed to protect the privacy and security of Windows(r)
computer users. The financial terms of the acquisition are not being
disclosed. The transaction is expected to close by the end of the
calendar year and is subject to customary closing conditions and
regulatory approvals.


With the addition of PC Tools, Symantec will expand its consumer product
portfolio to include award-winning PC utilities software and point
security technologies. PC Tools will help Symantec expand its reach with
consumers 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.


"We are excited to welcome PC Tools into the Symantec consumer family
and believe the combination of our two companies will provide additional
value and choice for consumers worldwide to better enable and protect
their digital life," said Janice Chaffin, Symantec Group President of
Consumer Products. "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."


PC Tools will maintain separate operations within Symantec's consumer
business unit, with Simon Clausen, PC Tools, Chief Executive Officer,
leading the team and reporting to Janice Chaffin, Symantec Group
President of Consumer Products. PC Tools will continue to offer their
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 USA, UK, Ireland and the
Ukraine. Their customers are located across the globe and their products
are available in more than 196 countries.


About Symantec

Symantec is a global leader in providing security, storage and systems
management solutions to help businesses and consumers secure and manage
their information. Headquartered in Cupertino, Calif., Symantec has
operations in more than 40 countries. More information is available at
www.symantec.com <http://www.symantec.com/> .


FORWARD LOOKING STATEMENTS

This press release contains forward-looking statements within the
meaning of U.S. federal securities laws, including expectations
regarding the operations of PC Tools and Symantec, that involve known
and unknown risks and uncertainties that may cause actual results to
differ materially from those expressed or implied in this press release.
Actual results may differ materially from those contained in the
forward-looking statements contained in this press release. Additional
information concerning these and other risk factors is contained in the
Risk Factors sections of Symantec's Annual Report on Form 10-K for the
fiscal year ended March 28, 2008. Symantec assumes no obligation to
update any forward-looking statement contained in this press release.


NOTE TO EDITORS 
If you would like additional information on Symantec Corporation and its
products, please visit the Symantec News Room at
http://www.symantec.com/news
<http://www.symantec.com/about/news/index.jsp> . All prices noted are in
U.S. dollars and are valid only in the United States. 
Symantec and the Symantec Logo are trademarks or registered trademarks
of Symantec Corporation or its affiliates in the U.S. and other
countries. Other names may be trademarks of their respective owners. 

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