In a widely anticipated move, Symantec Corp. Monday announced it will acquire security vendor Vontu to gain a deeper foothold into the data loss prevention (DLP) market.
The $350 million deal is expected to close in the fourth quarter of 2007, subject to receiving regulatory approvals and satisfaction of other customary closing conditions. Rumors circulated through the information security community last month that the Cupertino, Calif.-based security giant would announce the Vontu acquisition during its quarterly earnings update a couple weeks ago, but the day came without an announcement.
In making it official Monday, Tom Kendra, group president of Symantec's security and data management group, said in a statement, "The combination of Symantec's existing portfolio and Vontu's leading products and dedicated team enables us to deliver a central component of our Security 2.0 vision to customers -- information-centric security that protects both the device and the information itself."
San Francisco-based Vontu is well known for its data loss prevention technology. Its Vontu Data Loss Prevention (DLP) 8 product is an integrated suite that combines endpoint and network-based technology to protect confidential data wherever it is stored or used.
The move is further evidence of the industry's growing interest in DLP technology, as it comes less than two weeks after rival Trend Micro acquired another DLP vendor -- Provilla Inc.