Security software maker Symantec is mulling a breakup that would see its business split in two entities: one that sells security programs and other that does data storage, according to a Bloomberg report.
Known for its Norton antivirus software, Symantec has seen revenue drop in recent quarters, primarily due to declining PC sales and the company's failure to gain a strong foothold in the mobile security market.
Back in March, the company fired its CEO Steve Bennett, who had taken over the helm of the company in 2012. He was the second CEO to be fired from his job after the company sacked Enrique Salem in July 2012.
A split would make both halves of Symantec more attractive as acquisition targets, given that companies like EMC and HP have been eyeing the standalone security business or an independent storage business.
When contacted, a Symantec spokeswoman declined to comment on rumors. The report noted that an announcement may be just a few weeks away.
The news comes just over a week after eBay announced that it will separate itself and PayPal, which it acquired back in 2002, into independent publicly traded companies next year. Earlier this week, computer giant HP also confirmed that it is breaking up into two public companies: one focusing on cloud computing services and other tools for businesses, with the other handling personal computers and printers.