Symantec to acquire PC Tools

Written by IT News on 10:05 AM

Symantec has announced the imminent takeover of PC Tools, a security software vendor. Although the transaction has already been discussed and both parties have agreed that, the actual purchase is expected that by the end of the year. The sum of the Cupertino-based security solution is to pay for the acquisition was not disclosed.

"We are thrilled to welcome PC Tools in the Symantec family and consumer believe that the combination of our two companies will provide additional value and choice for consumers worldwide to better enable and protect their digital life," said Symantec Consumer Products Group President of Janice Chaffin . "By adding PC Tools, we are building on the market leading success of Symantec's consumer offerings and positioning ourselves for further incremental growth in a rapidly growing market." She added.

The main incentive behind the transaction was that Symantec wanted to expand to more markets and since PC Tools has its headquarters in Australia, but with offices in the U.S., UK, Ireland and Ukraine, said he makes easy goal to achieve. The Cupertino-based security solution, some companies benefit from technologies that PC Tools, while the majority of software applications of the acquired company will remain the same. Since the Norton manufacturer says, "PC Tools will continue to offer their products under the brand PC Tools and its customers through its existing partners and channels."

Although a PC Tools official explanation was not yet available at the time of writing, an employee of the company confirmed that PC Tools would work as an unmistakable module within Symantec, a unit under the direction of the current CEO of the company, Simon Clausen. The business is basically explained as an opportunity for the exchange of different technologies and create better products than if they had developed separately.

The question of whether the PC Tools will still be able to distribute free products or not, as Symantec is loyal to the business model is based on the commercialization of proprietary software. The two companies have not disclosed any details in relation to this matter so far.