Fremont: In yet another big acquisition of 2012, the security and storage company Symantec gulped LiveOffice, a privately held provider of online, cloud-based email archiving services. The deal is valued at $115 million.

The acquisition will extend Symantec’s intelligent information governance offering to the cloud, providing customers choice between on-premise, cloud or hybrid delivery of Symantec solutions. The company also says that the acquisition will lead to tighter integration between archiving and Symantec.cloud’s email security and management features.

Symantec was founded in April 1982 and provides security, storage and systems management solutions to help the customers-from consumers and small businesses to the largest global organizations- secure and manage their information against more risks at more points. Since its inception, Symantec has grown into a Fortune 500 company through a combination of internal development, strategic acquisition and partnership with industry leaders.

The California-based LiveOffice is a SaaS provider of email archiving, compliance and hosting. It has more than 20,000 clients and a 97 percent client retention rate. Founded in 1998 and backed by leading private equity firm Summit Partners, the company has more than 200 employees with deep experience in messaging including executives from Symantec, Microsoft and Cisco.

Nick Mehta is the CEO of LiveOffice. Prior to this, he was an Entrepreneur-In-Residence at Trinity Ventures. He also was the VP and General Manager at Symantec. Prior to Symantec, he held of Director, Product Management, CommandCentral. He also co-founded and was the VP-Marketing, Chipshot.com. He holds a Master’s of Science, Computer Science from Harvard University.