Symantec Reportedly Looking to Split into Two
- By Matt Holden
- Oct 08, 2014
According to a report, Symantec is in “advanced talks” to separate itself into two companies. Bloomberg originally reported the story based on information from “people with knowledge of the matter.” The company would apparently break up, with one business selling security software and the other focusing on data storage.
This news comes after other technology companies have announced similar splits, such as eBay spinning off its PayPal business and HP splitting itself in half to cover enterprise and PC/printing.
The battle against viruses and cyberattacks is more difficult than ever before, leading Symantec senior vice president for information security Brian Dye to declare the antivirus as dead. “We don’t think of antivirus as a moneymaker in any way,” he said in a May 4 story from the Wall street Journal.
Revenue for the company continues to fall over the last few quarters as it looks for a way to streamline its footprint and increase revenue.
Matt Holden is an Associate Content Editor for 1105 Media, Inc. He received his MFA and BA in journalism from Ball State University in Muncie, Indiana. He currently writes and edits for Occupational Health & Safety magazine, and Security Today.