Symantec Pays $390M for Clearwell

5/19/11Follow @wroush

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

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