Symantec becomes third major tech company to announce split in two weeks

[Shawn Knight]

Shoring up rumors on the matter from earlier in the week, Symantec has confirmed plans to split into two independent, publicly traded companies. One will focus on information management while the other will concentrate on Symantec’s bread and butter: security.

In a press release on the matter, the company said its decision to pursue a separation follows an extensive business review of their strategy and operational structure.

Michael A. Brown, Symantec president and CEO, said separating Symantec into two, independent publicly traded companies will provide each business the flexibility and focus to drive growth and enhance shareholder value.

His remarks echo what we’ve heard from others that have announced plans to split in recent memory.

Symantec becomes the third major technology company to announce a split in less than two weeks. On September 30, eBay Inc. revealed plans to split PayPal off with each becoming its own publicly traded company in 2015.

Less than a week later on October 6, HP said it would break up into two companies. HP Inc. will handle the company’s consumer PC and printing business while Hewlett-Packard Enterprise would be in charge of servers, storage, networking, converged systems, services and software as well as its OpenStack Helion cloud platform.

Symantec’s information management business generated revenue of $2.5 billion in fiscal year 2014 while the security division was responsible for bringing in $4.2 billion in revenue during the same period of time.

Symantec expects the spinoff to be complete by the end of 2015.

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https://www.techspot.com/news/58386-symantec-becomes-third-major-tech-company-announce-split.html

 

[David T.]

Crap Antivirus company breaks into two small pieces of crap. Other than their research on Stuxnet, my opinion of the company is very negative. Home use and corporate antivirus solutions are about as bad as Mcafee. I see the green check mark running in the tray yet countless systems end up being heavily infected with all sorts of Malware,spyware, trojans, etc. Maybe the main focus should be creating better products. Bit Defender is vastly more effective and in some cases Avast Free Antivirus. A free product does a better job in some cases than an expensive product!

 

[sllewe]

Crap Antivirus company breaks into two small pieces of crap. Other than their research on Stuxnet, my opinion of the company is very negative. Home use and corporate antivirus solutions are about as bad as Mcafee. I see the green check mark running in the tray yet countless systems end up being heavily infected with all sorts of Malware,spyware, trojans, etc. Maybe the main focus should be creating better products. Bit Defender is vastly more effective and in some cases Avast Free Antivirus. A free product does a better job in some cases than an expensive product!

Not mention Backup Exec.....

 

[Guest]

We have been using Symantec Endpoint Protection for a number of years in our Corporate environment and it is a decent product.

 

[DJMIKE25]

We have been using Symantec Endpoint Protection for a number of years in our Corporate environment and it is a decent product.

We Use endpoint protection and Backup exec for our clients and do not have any issues. I guess you can't make everyone happy.

 

[DDG4005]

I wonder which company will announce it's splitting into two next?

 

[Skidmarksdeluxe]

I wonder which company will announce it's splitting into two next?

Maybe Samsung will sell off it's iPhone division

 

[Jim$ter]

We have been using Symantec Endpoint Protection for a number of years in our Corporate environment and it is a decent product.

We Use endpoint protection and Backup exec for our clients and do not have any issues. I guess you can't make everyone happy.

We use it at our business to and it doesn't affect the computers which I like. Is it very effect? Can't really say. Personally I would choose something different if it weren't for the "Symantec" name pleasing the auditors. They think its great. I know on personally computers that's the first thing I remove for better performance and to remove all the viruses with other tools.

Luckily we run Malwarebytes professional also at work. I think it does a much better job at protection. That's all I run on Windows 8 machines. You don't need anything else.