Synamtec Buying Two VC-Backed Companies for Total of $370 Million

Symantec Corp. (Nasdaq: SYMC) has agreed to buy two VC-backed companies: PGP Corp., a Palo Alto, Calif.-based provider of enterprise data protection, and GuardianEdge, a San Francisco-based provider of endpoint data protection for the enterprise. The PGP deal will be for around $300 million in cash, while the GuardianEdge deal will be for around $70 million in cash. PGP has raised around $45 million in VC funding from firms D.E. Shaw Group, Intel Capital, DCM and Venrock. GuardianEdge raised over $10 million from Cargill Ventures, Thomvest Ventures, Altos Ventures and Cardinal Venture Capital.

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