Symantec to Snap Up Vontu for $350M5:01 PM EST Mon. Nov. 05, 2007
Symantec Monday said it plans to add data loss prevention to its portfolio via the acquisition of Vontu for $350 million.
The deal, expected to close this quarter, will bring data loss prevention solutions into the Symantec fold, giving it new products to help keep customers' confidential or proprietary information private.
"The combination of Symantec's existing portfolio and Vontu's leading products and dedicated team enables us to deliver a central component of our Security 2.0 vision to customers -- information-centric security that protects both the device and the information itself," said Tom Kendra, group president of the Security and Data Management Group at Symantec, Cupertino, Calif., in a statement.
San Francisco-based Vontu has been a Symantec technology partner since 2005 and already licenses technology to Symantec via an OEM agreement.
The move comes as Symantec works to keep pace in the data loss prevention market with rival McAfee, which is already bolstering its presence in the space through acquisitions.
McAfee this quarter plans to close its $350 million acquisition of SafeBoot, a privately-held encryption and data loss prevention vendor in Naples, Fla., and spent $20 million a year ago for Israel-based Onigma.
Rumors about Symantec's plans to acquire Vontu surfaced last month. Solution providers at that time said the two companies would be a good match.
Data leak prevention is becoming crucial to every industry, said David Sockol, president of Emagined Security, a San Carlos, Calif.-based solution provider and Symantec partner.
"Any organization that's adding data leak prevention to their arsenal these days is taking a step in the right direction, and I think Vontu would be a healthy fit for Symantec's portfolio," Sockol said.
Kevin McLaughlin contributed to this story.