Five Minute Briefing - Information Management
May 19, 2011

Symantec to Acquire E-Discovery Solution Vendor Clearwell Systems

Symantec Corp. has signed a definitive agreement to acquire Clearwell Systems, Inc., a privately held vendor in the e-discovery market for a purchase price of approximately $390 million, net of Clearwell's existing cash balance of approximately $20 million. "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, Information Management Group, Symantec. The acquisition is expected to close in the September quarter.