The software security vendor will pay $350 million in a combined cash and options deal. The acquisition is expected to close in the fourth calendar quarter of 2007, subject to receiving regulatory approvals and satisfaction of other customary closing conditions.

The combination of Symantec’s existing portfolio and Vontu’s leading products and dedicated team enables us to deliver a central component of our Security 2.0 vision to customers − information-centric security that protects both the device and the information itself,” said Tom Kendra, group president, Security and Data Management Group, Symantec. “In a business environment that is increasingly competitive, transparent and regulated, companies need confidence that their most valuable asset – information – is safe. Only then will security become more of a business enabler rather than a business inhibitor.”

Symantec’s new purchase will allow the company to enhance its ways of preventing data theft in house. In addition, the company aims to offer such products to its clients:

By joining forces with Symantec and building upon their strength in enterprise security and storage solutions, we will be uniquely positioned to help customers answer the important questions as to where their confidential information is stored, how it is being used, and how best to prevent its loss,” said Joseph Ansanelli, CEO, Vontu, Inc.