Security and storage giant Symantec has announced the acquisition of cloud email archiving company LiveOffice. The acquisition price was $115 million.
LiveOffice is a SaaS provider of email archiving, compliance and hosting. In addition to providing cloud based email archiving, and also archives email which is on-premise. By hosting email archives with them, customers can migrate from their current provider to a cloud provider without having to deal with the possibility of losing sensitive information.
Not only does LiveOffice archive your email, but if a client’s primary cloud-based hosting service experiences an outage, it doubles as a backup. If an email provider does experience an outage, LiveOffice’s users are still able to send and receive messages, including attachments, from the archive while the provider is down.
Founded in 1998, LiveOffice has 20,000 clients and processes and protects millions of messages a day. The company’s backers include Summit Partners. The CEO Nick Mehta was a former Symantec exec, and served as vice president and general manager of the Enterprise Vault information archiving and discovery software business at the company.
Symantec says the acquisition will extend its governance offerings to the cloud, providing customers with the choice between on-premise, cloud or hybrid delivery of Symantec archiving. LiveOffice will also be integrated with Symantec’s acquired Clearwell eDiscovery Platform.
source : TechCrunch