LiveOffice, a Torrance provider of cloud-based data archiving, has been acquired by computer security company Symantec for US$115 million, the companies have said.

LiveOffice offers off-site storage and e-discovery services for e-mail and messaging, file sharing and other applications to help companies meet regulatory requirements. The company was founded in 1998 and has more than 20,000 client companies in 50 countries. Chief Executive Nick Mehta is a former Symantec executive. Symantec, which is based in Mountain View, said the deal will enhance the services it provides to companies that need to comply with regulatory governance requirements. Its customers now will have the choice of storing information on-premise, in Symantec's data centres or a combination of both.

Source: Los Angeles Business Journal

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