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Posted by Brian Hill on January 16, 2012
Symantec today announced that it has purchased LiveOffice, a privately-held cloud-based archiving vendor, for approximately $115 million. With nearly 20,000 customers, LiveOffice has historically marketed to small- and mid-sized financial services firms. Over the past couple of years, however, the vendor has steadily bolstered its archiving and broader information governance functionality, lined up productive partnerships with major technology vendors, and met with success in selling to larger organizations across a wider set of vertical markets.
Buying LiveOffice is a smart move for Symantec. My initial take is that this acquisition will be a positive development for current and prospective enterprise customers. Here’s why:
I’ll be continuing to closely track this acquisition, but for now, I’m optimistic on the potential that this purchase holds. Today, Symantec also announced deeper integration (e.g. collection and classification) between Enterprise Vault and Clearwell eDiscovery applications. If Symantec devotes comparable resources and focus on linking LiveOffice with both Enterprise Vault and Clearwell, the vendor’s archiving and information governance customers stand to gain.
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