Symantec executives have seen the writing on the wall and realize that the future of security software isn’t so much building firewalls and other instruments to protect data from the outside but rather to secure the data from within with leading-edge encryption technology so that it can be shared and stored anywhere without it falling into the wrong hands.
By acquiring PGP and GuardianEdge, a pair of privately held encryption software companies, Symantec believes it will be better positioned to take on the likes of McAfee and other security software vendors for the hearts, minds and wallets of enterprise companies that are embracing cloud-based application delivery and storage models in waves.
eSecurity Planet looks at how Symantec plans to standardize its products on the PGP’s key management platform while also incorporating GuardianEdge’s endpoint data protection applications to secure mobile devices such as laptops, smartphones and USB drives.
Symantec significantly improved its encryption software portfolio with the acquisitions of PGP and Guardian Edge for $300 million and $70 million, respectively.
The deals, which are expected to close later this year, are the latest signs that Symantec (NASDAQ: SYMC) executives believe that cloud-based storage and security options will be favored by enterprise customers in the future.
The purchases mark Symantec’s most significant additions since the acquisition data loss prevention software vendor Vontu for $350 million in 2007.