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Tuesday, 12 July 2011 15:33

Symantec completes Clearwell acquisition

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Symantec has completed its acquisition of electronic discovery specialist Clearwell Systems.


Symantec's acquisition of Clearwell Systems gives it one of the most comprehensive information management solutions available, company officials claimed.

As business documents and records increasingly exist only in electronic form, having the right tools to meet legal discovery requirements becomes critical when facing litigation. Judges in various jurisdictions have shown a disinclination to provide more time for parties to retrieve information.

"With this acquisition, we will help customers reduce costs across all phases of information management for litigation, investigations and regulatory compliance," said Deepak Mohan, senior vice president, information management group, Symantec. "By adding Clearwell's market leading eDiscovery solution to Symantec's information management portfolio, we further increase Symantec's ability to get the right information, to the right people, at the right time."

The purchase price was approximately $US390 million, excluding Clearwell's cash holding. The deal was struck in May.

 


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Stephen Withers

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Stephen Withers is one of Australia¹s most experienced IT journalists, having begun his career in the days of 8-bit 'microcomputers'. He covers the gamut from gadgets to enterprise systems. In previous lives he has been an academic, a systems programmer, an IT support manager, and an online services manager. Stephen holds an honours degree in Management Sciences and a PhD in Industrial and Business Studies.

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