Symantec enters Encryption Market - Acquisition of PGP & GuardianEdge

Symantec Corp. made a big play last week in the encryption market through their purchase of encryption powerhouse PGP Corp., and GuardianEdge Technologies Inc.
Symantec's acquisition of PGP allows them to offer customers a broad range of full disk encryption via PGP and removable media encryption via GuardianEdge.

The deal cost Symantec $370 million dollars. Symantec paid $70 million for San Mateo, Calif-based GuardianEdge and $300 million for Menlo Park, Calif.-based PGP.
Symantec will integrate the two vendors' platforms into Symantec's centralized management platform.

Symantec currently has an OEM relationship with both Guardian Edge and PGP. The combined offering provides customers with a full range of full disk encryption (PGP) and removable media encryption (GuardianEdge). Since both companies are OEM partners of Symantec, there should be minimal integration issues- per reports from their CEO Enrique Salem.

The agreements are subject to regulatory approvals and are expected to close during the June quarter.