Symantec buys PGP

[Dave Farber <dave () farber net>]

Begin forwarded message:

> From: Richard Forno <rforno () infowarrior org>
> Date: April 29, 2010 10:03:07 AM EDT
> To: Farber Dave <dave () farber net>
> Subject: Symantec buys PGP

> Symantec Buys ncryption Specialist PGP for $300M
>
> By Jeremy Kirk, IDG News Service
>
> http://www.pcworld.com/businesscenter/article/195217/symantec_buys_encryption_specialist_pgp_for_300m.html
>
> Symantec will acquire encryption specialist PGP and endpoint  
> security vendor GuardianEdge Technologies for US$300 million and $70  
> million respectively, the company said on Thursday.
>
> Both are privately held companies. Symantec said the deals are  
> subject to regulatory approval but are expected to close by June.
>
> Symantec said the companies' combined specialties in standards-based  
> encryption for e-mail, file systems, removable media and smartphones  
> will complement its security offerings, such as its gateway,  
> endpoint security and data-loss prevention software.
>
> Encrypting information offers a higher level of security in case  
> data is lost or stolen. Earlier this month, the U.K. increased the  
> fine under the Data Protection Act for organizations that lose data  
> to a maximum of £500,000 (US$765,000).
>
> Symantec said it will standardize its products on PGP's key  
> management platform, which allows administrators to centrally manage  
> encryption tasks. That platform will be integrated into the Symantec  
> Protection Center, a management console for its products.
>
> GuardianEdge, which specializes in security for laptops, portable  
> storage devices and smartphones, is already a partner of Symantec  
> for its Endpoint Encryption product. The company has particular  
> strength in the government market, Symantec said.
>
> The two companies will become part of Symantec's Enterprise Security  
> Group, headed by Francis deSouza, senior vice president.



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