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Symantec to separate business to channel growth and innovation

Posted on Wednesday, October 15, 2014
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By The Softcat News Team

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Following HP’s recent announcement to reorganise, antivirus software and data management provider Symantec has announced that it is planning to separate its operations into two publicly traded firms. One firm will focus on storage and data management, and the other on security software. The transition is scheduled for completion by December 2015.

Softcat has partnered with Symantec for over ten years. CEO Martin Hellawell welcomed the announcement, and believes that customers will benefit from this refocusing and strengthening of operations.

Martin Hellawell said, “This is a positive move for Symantec, Softcat and our combined customer base. They are two quite different portfolios and, by splitting into two, each respective unit should be focussed on their primary business and become easier to deal with. The reorganisation is likely to allow Symantec to maximise business growth and shareholder value, and we hope that this will result in more innovation and even better products for customers. We fully support Symantec in this decision.”

The new security business will cover Symantec’s Norton antivirus software, encryption products, user authentication and other cybersecurity services. The second business section will focus on Symantec’s data storage and management business, including backup and recovery, archiving and eDiscovery.

Michael Brown will remain the president and CEO of Symantec while Thomas Seifert will continue to serve as CFO.

Michael Brown said in a statement on Thursday afternoon: “It has become clear that winning in both security and information management requires distinct strategies, focused investments and go-to market innovation. Separating Symantec into two, independent publicly traded companies will provide each business the flexibility and focus to drive growth and enhance shareholder value.”

Softcat’s customers will notice no disruption to their existing contracts, and Softcat anticipates that as a result of Symantec’s business refocus they will stand to benefit from improved products. For more information please contact your Softcat account manager or call 01628 403403.

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