Symantec Corp., the world’s largest maker of security software, agreed to buy closely held Clearwell Systems Inc. for about $390 million.
Clearwell’s eDiscovery software package, which Time Warner Communications recently bought for its own corporate system, is well respected in legal and business world. Symantec plans to integrate it with its own Enterprise Vault eDiscovery product to create a "more complete end-to-end e-discovery solution," Symantec said.
The company expects the acquisition to reduce earnings this fiscal year by 1.5 cents a share. The $390 million price excludes Clearwell’s $20 million in cash.
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