Symantec Pays $390M for Clearwell

Mountain View, CA-based Symantec (NASDAQ: SYMD), the company best known for the Norton AntiVirus software line for PCs, said today that it has agreed to acquire Clearwell Systems, a maker of archiving and e-discovery software for litigation support. Symantec will pay $390 million in the transaction, net of Clearwell’s $20 million in cash. Clearwell, which is also based in Mountain View, was founded in 2004; its investors included Sequoia Capital, Redpoint Ventures, Northgate Capital, and DAG Ventures.

Wade Roush is a freelance science and technology journalist and the producer and host of the podcast Soonish. Follow @soonishpodcast

Trending on Xconomy