Symantec Corp. signed a definitive agreement to acquire PC Tools, a global provider of innovative software products designed to protect the privacy and security of Windows computer users. The financial terms of the acquisition are not being disclosed. The transaction is expected to close by the end of the calendar year and is subject to customary closing conditions and regulatory approvals.
With the addition of PC Tools, Symantec will expand its consumer product portfolio to include award-winning PC utilities software and point security technologies. PC Tools will help Symantec expand its reach with consumers in new emerging regional markets and will bring an array of go-to-market capabilities that have been effective with consumers in many markets around the world.
PC Tools will maintain separate operations within Symantec’s consumer business unit, with Simon Clausen, PC Tools, Chief Executive Officer, leading the team and reporting to Janice Chaffin, Symantec Group President of Consumer Products. PC Tools will continue to offer their products under the PC Tools brand and serve its customers through its existing partners and channels.