MOUNTAIN VIEW, CA--(Marketwire - Jul 11, 2011) - Symantec Corp. (NASDAQ: SYMC) today announced that privately-held Clearwell Systems Inc. is now part of Symantec. Symantec completed its acquisition of Clearwell, a recognized leader in the electronic discovery market, on June 24, 2011. The acquisition agreement between Symantec and Clearwell was announced on May 19, 2011.
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The acquisition of Clearwell brings together the industry's leading archiving, backup and eDiscovery offerings to provide customers one of the most comprehensive information management solutions available. Organizations will be able to reduce costs and risks while streamlining their eDiscovery workflow for litigation, investigations and regulatory compliance. In addition, this acquisition is expected to provide future product integration opportunities with Symantec backup and security, by leveraging Symantec NetBackup, Data Loss Prevention and Data Insight.
"Symantec's acquisition of Clearwell is a perfect marriage between best of breed technologies," said Shawn Waggoner, Director, Archiving and eDiscovery at Terremark. "Our company has achieved significant benefits by using Enterprise Vault and the Clearwell eDiscovery Platform. As Symantec continues to deepen the integration of the two products into a more complete solution, we look forward to providing this end-to-end archiving and eDiscovery solution to our customers to meet their legal and discovery needs."
"The acquisition of Clearwell enables Symantec to bolster its end-to-end eDiscovery capabilities by addressing the search, discovery, and analysis of electronically stored information in distributed endpoints (such as laptops and desktops) and cloud-based applications," said Vivian Tero, Program Director, Governance, Risk and Compliance Infrastructure, IDC. "We anticipate the integration of Clearwell into the broader Symantec organization will be relatively smooth."
"Symantec and Clearwell have been complementary vendors for archiving and eDiscovery technology for our customers and partners. Their solutions provide a world class solution to our customers' needs for storing, managing and discovering information," said Craig P. Abod, President, Carahsoft. "Bringing these two companies together provides our customers with the industry's most comprehensive solution to better meet legal and regulatory requirements, while also reducing overall complexity, costs and streamlining information governance, archiving, and eDiscovery."
"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."
Clearwell joins the Information Management Group led by Senior Vice President Deepak Mohan. For more information on how Clearwell complements Symantec's information management portfolio please visit: http://www.symantec.com/clearwell
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FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements within the meaning of U.S. federal securities laws, including expectations regarding the integration of Clearwell Systems' products and technologies into Symantec's products and solutions, that involve known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied in this press release. Such risk factors include, among others, our ability to successfully integrate the merged business and technology, and customer demand for the technology and integrated product offerings. Actual results may differ materially from those contained in the forward-looking statements contained in this press release. Additional information concerning these and other risk factors is contained in the Risk Factors section of Symantec's most recently filed Form 10-K. Symantec assumes no obligation to update any forward-looking statement contained in this press release. The contents of the Symantec website shall not be deemed incorporated by reference into this press release. Any forward-looking indication of plans for products is preliminary and all future release dates are tentative and are subject to change. Any future release of the product or planned modifications to product capability, functionality, or feature are subject to ongoing evaluation by Symantec, and may or may not be implemented and should not be considered firm commitments by Symantec and should not be relied upon in making purchasing decisions.