Symantec has moved to acquire the privately-held database service provider Clearwell Systems for $390 million and an additional $20 million in cash.
Clearwell provides software that allows government organisations and businesses to search, analyse, archive and process the data stored in their databases. Symantec plans to integrate the company’s e-discovery and other solutions to its existing archiving and storage portfolio.
Symantec is keenly eyeing the e-discovery service as the company believes that it fits well into an overall archiving service package, V3 reports.
Initially, Clearwell’s products will only be integrated with Symantec’s archiving solutions but the company plans to integrate its solutions with its backup, data loss prevention and Data Insight analysis offerings in the future.
"As information continues to grow at unprecedented rates, the biggest challenge for customers is to protect, manage and backup this information as well as have the ability to categorize and discover it efficiently," said Deepak Mohan, senior vice president of the information management group at Symantec.
"The acquisition of Clearwell's market leading electronic discovery solution will further increase Symantec's ability to get the right information, to the right people, at the right time."