Thursday, September 11, 2008

Symantec Buys SwapDrive For $124M

Cupertino-based Symantec has acquired web storage firm SwapDrive, in a $124M deal. According to SwapDrive, the acquisition actually occurred in June. SwapDrive ran Backup.com and WhaleMail.com in addition to operating the firm's own web-based system for automatically backing up PCs. SwapDrive was backed by Core Capital, which was the sole investor in the firm.