Symantec has agreed to acquire PC Tools, a provider of anti-virus, anti-spyware and PC utility tools for users of Microsoft Windows. The acquisition is expected to close by the end of 2008. The acquisition brings PC Tools' computer maintenance, utility and security technologies into Symantec's consumer products.Symantec has signed a definitive agreement to acquire PC Tools, a provider
of security and utilities software for Microsoft Windows.
Financial terms of the deal, which is expected to close by the end of 2008,
were not disclosed. Headquartered in Australia,
PC Tools has offices in the United States,
United Kingdom,
Ireland and the
Ukraine.
According to Symantec, the
acquisition is meant to expand Symantec's reach into new markets and bring
PC Tools' computer maintenance, utility and security technologies into
Symantec's consumer products. PC Tools' product portfolio includes Spyware
Doctor, Registry Mechanic and Desktop Maestro, which integrates registry
cleaning, system monitoring and privacy cleaning.
"As consumers create more and more digital information, they are looking
for help in securing and managing that information across devices," said
Nicole Kenyon, a spokesperson for Symantec. "Our focus has always been to
help consumers manage their technology, from system utilities to security and
online backup. PC Tools will broaden our portfolio in the utilities
category, as well as with point security technologies."
Kenyon noted that PC Tools offers three enterprise products, including
Spyware Doctor Enterprise, and Symantec might look for opportunities to
integrate PC Tools' technologies into its enterprise product portfolio in
the future.
PC Tools will maintain separate operations within Symantec's consumer
business unit. PC Tools will continue to offer its products under the PC Tools
brand and serve its customers through its existing partners and channels,
according to Symantec.
"We are excited to welcome PC Tools into the
Symantec consumer family and believe the combination of our two companies will
provide additional value and choice for consumers worldwide to better enable
and protect their digital life," Janice Chaffin, Symantec group president
of consumer products, said in a statement. "By adding PC Tools, we build
on the market-leading success of Symantec's consumer offerings and firmly
position ourselves for continued incremental growth in a rapidly expanding
market."
