Symantec Pays $390M for Clearwell

Wade Roush5/19/11

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 Xconomy's chief correspondent and editor of Xconomy San Francisco. You can subscribe to his Google Group or e-mail him at wroush@xconomy.com. Follow @