Security and storage giant Symantec has agreed to buy specialist Australian-based anti-spyware firm PC Tools. Terms of the deal were undisclosed in Monday's announcement.
Subject to regulatory approvals, privately-held PC Tools will join Symantec's consumer security division. Symantec already has PC utilities and anti-sypware products in its extensive portfolio. The deal is more about expanding into an emerging regional market, brand and channel strategy rather than pure technology.
PC Tools will maintain separate operations within Symantec’s consumer business unit, with PC Tools chief exec Simon Clausen heading up the operation. He will be reporting to Janice Chaffin, Symantec's group president of consumer products. The PC Tools brand and channel structure will be retained.
Symantec's statement on the deal can be found here. ®