Microsoft Application Virtualization 4.5 client service fails to start with Symantec PGP Installed

The Microsoft Application Virtualization Client service may fail to start on App-V 4.5 clients running on machines that also have Symantec PGP Desktop Corporate 10.1 or 9.x installed.  Attempting to start the service fails with the error:

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Services

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Could not start the Application Virtualization Client service on Local Computer.

 

Error 1114: A dynamic link library (DLL) initialization routine failed.

A corresponding event will be logged: 

Event Type:        Error

Event Source:    Service Control Manager

Event Category:                None

Event ID:              7023

User:                     N/A

Description:

The Application Virtualization Client service terminated with the following error:

A dynamic link library (DLL) initialization routine failed.

In addition, sftlog.txt will show errors similar to the following:

[01/11/2011 08:12:56:691 INTF ERR] {tid=C10}

The Application Virtualization Client service cannot be initialized because it found an incompatible product (PGP Desktop version 10.2.0.1672).  No known compatible version exists.