Symantec recently announced it has signed a definitive agreement to acquire privately-held Clearwell Systems for a purchase price of US$390 million.

It’s said that Clearwell is a recognized leader in the eDiscovery market.The acquisition of Clearwell will bring together the industry’s leading eDiscovery,archiving and backup offerings to provide customers one of the most comprehensive information management solutions available.

In addition,this acquisition will expand Symantec’s addressable market opportunity and will position the company as a leader in the fast-growing eDiscovery software market.What’s more,this acquisition is expected to provide future cross-sell and product integration synergies across Symantec backup and security,by leveraging Symantec NetBackup,Data Loss Prevention and Data Insight.The agreement is expected to close in the September quarter.