Symantec to buy PowerQuest

SEATTLE: Symantec Corp. said that it would buy PowerQuest Corp. to develop a new business that will offer data recovery and management services to companies.

Financial terms of the deal were not disclosed.

Orem, Utah-based PowerQuest, known for its PartitionMagic software for consumers, specializes in providing real-time data backup for corporate server and data systems.

Symantec, which sells software and services to protect companies from viruses and network intrusions, in a statement said it needed technology for managing and backing up corporate data to offer a full suite of services to corporate customers.

Cupertino, California-based Symantec, known for its Norton series of antivirus and data management software, said the acquisition of closely held PowerQuest is expected to close by the end of 2003.

© Reuters