Acquisition provides industry-leading information governance, archiving, and eDiscovery from a single vendor
MOUNTAIN VIEW, Calif. – July 11, 2011 – Symantec Corp. (Nasdaq: SYMC) today announced that privately-held Clearwell Systems Inc., is now part of Symantec. Symantec completed its acquisition of Clearwell, a recognized leader in the electronic discovery market, on June 24, 2011. The acquisition agreement between Symantec and Clearwell was announced on May 19, 2011. Click to Tweet : #SYMC announces @Clearwell is now part of @Symantec, combines leading #archiving & #eDiscovery solutions: http://bit.ly/kc8f7B
The acquisition of Clearwell brings together the industry’s leading archiving, backup and eDiscovery offerings to provide customers one of the most comprehensive information management solutions available. Organizations will be able to reduce costs and risks while streamlining their eDiscovery workflow for litigation, investigations and regulatory compliance. In addition, this acquisition is expected to provide future product integration opportunities with Symantec backup and security, by leveraging Symantec NetBackup , Data Loss Prevention and Data Insight . “Symantec’s acquisition of  Clearwell is a perfect marriage between best of breed technologies,” said Shawn Waggoner, Director, Archiving and eDiscovery at Terremark. “Our company has achieved significant benefits by using Enterprise Vault and the Clearwell eDiscovery Platform. As Symantec continues to deepen the integration of the two products into a more complete solution, we look forward to providing this end-to-end archiving and eDiscovery solution to our customers to meet their legal and discovery needs.”
“The acquisition of Clearwell enables Symantec to bolster its end-to-end eDiscovery capabilities by addressing the search, discovery, and analysis of electronically stored information in distributed endpoints (such as laptops and desktops) and cloud-based applications,” said Vivian Tero, Program Director, Governance, Risk and Compliance Infrastructure, IDC. “We anticipate the integration of Clearwell into the broader Symantec organization will be relatively smooth.”
“Symantec and Clearwell have been complementary vendors for archiving and eDiscovery technology for our customers and partners. Their solutions provide a world class solution to our customer’s needs for storing, managing and discovering information,” said Craig P. Abod, President, Carahsoft. “Bringing these two companies together provides our customers with the industry’s most comprehensive solution to better meet legal and regulatory requirements, while also reducing overall complexity, costs and streamlining information governance, archiving, and eDiscovery.”
“With this acquisition, we will help customers reduce costs across all phases of information management for litigation, investigations and regulatory compliance,” said Deepak Mohan, senior vice president, Information Management Group, Symantec. “By adding Clearwell’s market leading eDiscovery solution to Symantec’s information management portfolio, we further increase Symantec’s ability to get the right information, to the right people, at the right time.”
Clearwell joins the Information Management Group led by Senior Vice President Deepak Mohan. For more information on how Clearwell complements Symantec's information management portfolio please visit: http://www.symantec.com/clearwell
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Symantec Completes Acquisition of Clearwell Systems

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Symantec , the computer software security giant, has announced that it will be acquiring enterprise-class eDiscovery management platform maker, Clearwell Systems for $390 million. Symantec is probably best known for its widely proliferated (perhaps even ubiquitous) Norton security products, but of late it has been making a play at eDiscovery platforms, a strategic move, considering Gartner values the market at around $1.7 billion, and is expected to grow at an annual rate of 14 percent. What’s more, Symantec spent $2 billion last year in acquisitions, $1.25+ billion of that coming in its acquisition of VeriSign, Inc. While the company’s stock languished last year, and shareholders and more pushed for the company to break up, Symantec has pushed on. Symantec expects Clearwell to increase the company’s ability to provide its customers with archiving and backup services, considering that Clearwell is one of the more well-known information management platforms out there. I mean, hey, it was worth $390 million. Symantec’s acquisition should also reduce the amount of time and latency for getting important information to its customers. “Archiving and eDiscovery are two critical elements of information governance,” said Aaref Hilaly, president and chief executive officer, Clearwell Systems, in a press release. “By joining forces and combining the industry’s leading archiving solution with the industry’s leading eDiscovery solution, we will be uniquely positioned to deliver a seamless, integrated information governance workflow, benefitting both Symantec and Clearwell customers.”
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Symantec Continues Move Into eDiscovery, Acquires Clearwell Systems For $390 Million

Symantec buys e-discovery firm Clearwell for $390M
Dean Takahashi
Tags: e-discovery , Security
Security tech giant Symantec said today it is acquiring electronic discovery management firm Clearwell Systems for $390 million. Symantec makes popular Norton computer protection software but it has been moving into the e-discovery market lately. Gartner says the e-discovery market — where software automatically sifts through legal documents in search of smoking guns — is generating $1.7 billion in sales and is growing 14 percent a year. In the past two years, Symantec spent $2 billion on acquisitions, including $1.25 billion for the purchase of Verisign’s authentication business. As we noted in 2009 , Clearwell hit its stride as a provider of eDiscovery services, providing a way to search through terabytes of emails, company records, and other data to narrow down a legal search to whatever documents are most relevant to its case. The Mountain View, Calif.-based company first launched its service in 2006 but has released many versions. The company’s hundreds of clients are a who’s who of corporate America, including Viacom, Dow Jones, Fedex, Boeing, General Electric, Coca Cola, Microsoft and Hewlett-Packard. Whenever those companies are hit with litigation or regulatory requests, they are under legal obligation to disclose relevant documents in the court discovery process. Those companies are using the Clearwell technology — which documents and explains how a company’s document search will hold up in court — so that they can avoid hiring an army of lawyers to read through every single document ever produced by the company. Corporations spend billions every year on this kind of work. The product is used by thousands of lawyers and information security specialists. Its importance has increased in recent years as email has become more and more pervasive in documenting the processes that happen within enterprises. The company was headed by Aaref Hilaly, chief executive (pictured right) and Kamal Shah (left). The company started with an idea in 2005. Venkat Rangan, Andy Byrne, Trevor Eddy and Anup Singh founded company, and Hilaly and Shah came on to run the business. They launched their e-discovery software. About 75 partners offer Clearwell as a software-as-a-service. As of 2009, the company had raised $33 million in three rounds from Sequoia Capital, Redpoint Ventures, and late-stage venture funds. Get more stories like this:

Symantec buys e-discovery firm Clearwell for $390M

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Mountain View, CA-based Symantec (NASDAQ: SYMD ), the company best known for the Norton AntiVirus software line for PCs, said today that it has agreed to acquire Clearwell Systems , a maker of archiving and e-discovery software for litigation support. Symantec will pay $390 million in the transaction, net of Clearwell’s $20 million in cash. Clearwell, which is also based in Mountain View, was founded in 2004; its investors included Sequoia Capital, Redpoint Ventures, Northgate Capital, and DAG Ventures. Wade Roush is a contributing editor at Xconomy. Follow @wroush

Symantec Pays $390M for Clearwell

Symantec said it will acquire privately held Clearwell Systems in a move to better tap into the e-discovery market. | Topic: Security
Symantec on Thursday said it will acquire privately held Clearwell Systems in a move to better tap into the e-discovery market. With the move , Symantec plans to combine Clearwell with its archiving and backup software. Symantec has e-discovery software called Enterprise Vault, but aims to use Clearwell to offer a larger suite. The e-discovery market is expected to be a $1.7 billion market in 2014, according to Gartner. Symantec is best known for its security software, but has a sizable storage and information management unit. Symantec said the purchase will shave 1.5 cents a share from its fiscal 2012 earnings. The deal should be accretive for fiscal 2013 earnings. Symantec recently reported its fourth quarter results. The company handily topped estimates with fourth quarter net income of $297 million, or 22 cents a share, on revenue of $1.6 billion. Non-GAAP earnings were 38 cents a share, two cents ahead of estimates. Join Discussion

Symantec acquires Clearwell, eyes e-discovery market

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