Symantec enters crowded online data backup market
 

Symantec has acquired online backup company SwapDrive for an estimated $123m (£63m), say reports. SwapDrive offers a secure online service to consumers and small businesses that want to upload and store information which can be retrieved at any time from any device.

Many companies already offer online backup services, including EMC (which acquired online backup provider Mozy last year), HP, IBM and Microsoft, as well as dedicated online backup providers such as Iron Mountain.

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