14 DAY TRIAL // Symantec has announced the imminent takeover of PC Tools, a security software manufacturer. Although the transaction has already been discussed and both parties have agreed to it, the actual buy is expected to take place by the end of the year. The sum the Cupertino-based security company is to pay for the acquisition has not been disclosed.
"We are excited to welcome PC Tools into the Symantec consumer family and believe the combination of our two companies will provide additional value and choice for consumers worldwide to better enable and protect their digital life," said Symantec Group President of Consumer Products Janice Chaffin. "By adding PC Tools, we build on the market-leading success of Symantec's consumer offerings and firmly position ourselves for continued incremental growth in a rapidly expanding market." she added.
The main incentive behind the transaction was that Symantec wanted to expand to more markets and, since PC Tools is based in Australia, but with offices in the U.S., the U.K., Ireland and Ukraine, it makes said goal easily achievable. The Cupertino-based security company will benefit from some technologies provided by PC Tools, while the majority of the software applications produced by the acquired company will remain the same. As the Norton manufacturer says, "PC Tools will continue to offer their products under the PC Tools brand and serve its customers through its existing partners and channels."
Although a PC Tools official statement was not yet available at the time of writing, an employee of the company confirmed that PC Tools would operate as a distinctive module within Symantec, a unit that would be led by the current CEO of the company, Simon Clausen. The deal is basically explained as a way to share different technologies and create better products than if they had developed separately.
The question that arises is of whether PC Tools will still be able to distribute free-of-charge products or not, as Symantec is loyal to the business model based on the commercialization of proprietary software. The two companies have not disclosed any details regarding this matter so far.