IT's splitsville -- for Symantec, this time

13th October 2014
IT's splitsville -- for Symantec, this time

Mumbai, October 13, 2014: Hardly a week after  HP  split into two companies,  Symantec  has announced it will go down the same  path. The company will  separate into two independent, publicly traded companies:   one business focused on security and one business focused on information management.
As the security and storage industries continue to change at an accelerating pace, Symantec’s security and IM businesses each face unique market opportunities and challenges. It has become clear that winning in both security and information management requires distinct strategies, focused investments and go-to market innovation,” said Michael A. Brown, Symantec President and CEO. “Separating Symantec into two, independent publicly traded companies will provide each business the flexibility and focus to drive growth and enhance shareholder value.”
Security Business : Symantec is a leader in security with leading overall market share—twice the nearest competitor—in a market projected to reach $38 billion in 2018.  The security business generated revenue of $4.2 billion in fiscal year 2014. The Security business will include: consumer and enterprise endpoint security; endpoint management; encryption; mobile; Secure Socket Layer (“SSL”) Certificates; user authentication; mail, web and data center security; data loss prevention; hosted security; and managed security services.
In India its best known  public face is the Norton  consumer security product suite.
Information Management Business: The IM business will allow organizations to harness the power of their information to enable highly informed decision making, no matter what system it resides on. The IM business generated revenue of $2.5 billion in fiscal year 2014. The Information Management business will include: backup and recovery; archiving; eDiscovery; storage management; and information availability solutions.
Michael A. Brown  whose appointment was announced recently,  will be the President and CEO of Symantec and Thomas Seifert will continue to serve as CFO. John Gannon will be General Manager of the new information management business and Don Rath will be its acting CFO.
In India the company has operations in Mumbai, Delhi, Bangalore and Pune.