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Opinion on  Symantec Corp (SYMC)     Sector: Technology  >  Industry: Software & Programming
SYMC is going to rock

Feb 04, 2007 06:32 PM GMT
Lee2004_11_26
Return Risk
-1.70% HIGH
Sr. Associate

 


SAN FRANCISCO, Feb 2 (Reuters) - Symantec Corp. (SYMC.O: QuoteProfile , Research) sees its consulting division hitting $1 billion in revenue by 2010 as the company searches for growth beyond its core business of selling security software.


Greg Hughes, head of the company's consulting operations, said in an interview this week the business would grow over the next three years to make up 10 percent of Symantec's overall revenue. The division currently generates about $200 million, or about 5 percent of the company's revenue.


As Symantec faces increased competition in the consumer security software market from competitors like Microsoft Corp. (MSFT.O: QuoteProfile , Research), Hughes sees its fast-growing global services group that helps customers manage corporate risk as a path to growth.


In 2006, the services group grew 29 percent compared to the company's overall 8 percent rate. Hughes estimated consulting could grow as big as Symantec's consumer division, which generates about $1.5 billion in annual revenue as the company's single biggest business unit.


 




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"The main impetus is we believe it is important to transform Symantec from a pure technology company to a services company," he said.


The consulting group provides services such as traditional network security, making sure systems stay on line and perform as they should, and ensuring that customers are in compliance with laws and regulations.


Symantec, best known for its consumer-oriented Norton anti-virus programs, entered the corporate software business about two years ago with the purchase of storage software company Veritas for about $13.5 billion.


Analysts have said that acquisition, which closed in July 2005, has proven tough to integrate into the rest of Symantec's operations and partly to blame for disappointing earnings the past two quarters.


Hughes estimated the size of the market opportunity in risk management consulting at $10 billion.


Building this business will also come through partnerships and acquisitions like the December purchases of United Kingdom-based Company-i, he said.


About Symantec


Symantec is a global leader in infrastructure software, enabling businesses and consumers to have confidence in a connected world. The company helps customers protect their infrastructure, information, and interactions by delivering software and services that address risks to security, availability, compliance, and performance. Headquartered in Cupertino, Calif., Symantec has operations in 40 countries. More information is available at www.symantec.com.


Update 03/20:

AUDIO From Medialink and Symantec: United States - A Hotbed for Cyber Criminals
Tuesday March 20, 3:21 pm ET

 

NEW YORK, March 20 /PRNewswire/ -- According to the latest semiannual Internet Security Threat Report from computer security company Symantec, the United States leads all other countries in developing and launching global computer threats.

Listen to this report from Symantec (Nasdaq: SYMC - News ) at: http://media.medialink.com/WebNR.aspx?story=33159

Registered journalists can access video, audio, text, graphics and photos for free and unrestricted use at http://media.medialink.com .

03LA07-0099

 



Source: Medialink and Symantec


Update 03/27:

 

Symantec to Provide PC-Level Security and Data Protection for Windows Mobile Devices

 

2007-03-26 08:00 ET - News Release

CUPERTINO, CA -- (MARKET WIRE) -- 03/26/07

Symantec Corp. (NASDAQ: SYMC) today announced it will offer Symantec Mobile Security Suite 5.0, a solution designed to provide customers with the same security and data protection capabilities on their Windows Mobile smartphones and PDAs as what has become standard for laptops and other computing devices. Symantec Mobile Security Suite 5.0 will include antivirus, firewall, anti-SMS spam and data encryption technologies that are easy to deploy, manage and maintain. This kind of layered security can not only mitigate the unique security risks of mobile devices, but can also enable companies to more easily and cost-effectively comply with internal security policies and external regulations.

"The global workforce is becoming increasingly mobile -- using a wide range of mobile devices to access personal applications and corporate data over insecure public WiFi and home networks," said Sandra Palumbo, senior analyst at the Yankee Group. "The IT departments tasked with managing and protecting these devices are having a tough time wading through the wide spectrum of individual security products to determine what is needed and what is not. The vendor that can unify these technologies, ensure they interoperate and provide a high level of support and manageability will likely find a significant market with corporate IT buyers."

Yankee Group research indicates that the number of enterprise mobile data users will increase to over 269 million by 2010, representing a 19.8 percent Compound Annual Growth Rate (CAGR). With the increasing number of users connecting their mobile devices to company networks, it is no surprise that malware writers and criminals are looking to take advantage of this unprotected path to sensitive data. Research from Symantec's Global Intelligence Network shows that the number of mobile viruses has almost doubled every six months from 2004 to 2006.

Symantec Mobile Security Suite 5.0 will provide several integrated security technologies for mobile devices, including:

--  Antivirus - Immediately detects mobile threats and prevents users from      accessing an infected file. Administrators can schedule regular virus scans      and updates via Symantec LiveUpdate;    --  Firewall - Controls both inbound and outbound network traffic on the      mobile device;    --  Anti-SMS Spam - Automatically filters and deletes spam messages, or      places them in a separate spam folder;    --  Loss mitigation technologies - Encrypts data on the device and memory      cards in case it is lost or stolen. A file activity log helps      administrators determine if confidential files have been accessed, and a      data wipe tool erases all data after a maximum number of consecutive failed      login attempts.    --  Phone Feature Control - Allows administrators to enable and disable      certain device features, such as Bluetooth, WiFi, and device synching. This      limits security vulnerabilities and potential attack vectors by only      providing access to those features required for business;    --  Symantec Mobile VPN - This optional add-on enables enterprise      customers to connect to corporate networks through secure IPSec VPN tunnels      in order to protect sensitive data and interactions;    --  Network Access Control - When used with the Symantec Mobile VPN, this      technology enables IT administrators to ensure only secure, policy-      compliant devices can access the corporate network;    --  Tamper Protection - Verifies that the device's image and security      applications have not been tampered with or altered prior to allowing      network access;    --  Enterprise Management - Provides a management console for IT      administrators with customizable security policies and reporting.       

"Many Symantec customers -- IT departments and consumers alike -- understand that mobile phones represent the new computing platform," said Paul Miller, managing director of Symantec's mobile security group. "Now that the dual-mode Windows Mobile devices permit users to communicate over both cellular and wireless local networks, more and more users are relying on their phones for their personal and business transactions. These 'pro-sumers' are looking to security leaders like Symantec to help them protect their information and interactions no matter where they reside -- whether that's on phones, laptops, or PCs."

The Symantec Mobile Security Suite 5.0 is an integrated solution that addresses the expanding ecosystem of both known and unknown security threats. It also provides added protection for the common problem of lost phones.

Symantec is scheduled to release Norton Mobile Security, a consumer version of its enterprise Mobile Security Suite in the same May 2007 timeframe. Norton Mobile Security will specifically feature firewall, antivirus, anti-SMS spam, password protection and data encryption technologies to address consumers' needs for security and protection of their personal, financial and other confidential information held on smartphones.

Availability

Symantec Mobile Security Suite 5.0 and Symantec Mobile VPN 2.6, important components of Symantec's Endpoint Security product family and the company's Security 2.0 strategy, are scheduled to be released in North America in May 2007. These products are expected to be available through Symantec's direct sales force, enterprise VAR channel, system integrators and select OEM partners.


Update 03/27:

 

Norton Security Scan Helps Everyday Internet Users Search for Online Threats

 

2007-03-27 08:00 ET - News Release

CUPERTINO, CA -- (MARKET WIRE) -- 03/27/07

Symantec Corp. (NASDAQ: SYMC) today announced Norton Security Scan will be included in the latest version of "Google Pack," a free collection of essential software from Google and other companies that makes it easy for users to protect and enhance their PCs. According to Symantec's most recent Internet Security Threat Report, home users or "the everyday Internet user" made up the most highly targeted sector, accounting for 93 percent of all targeted attacks. With Norton Security Scan, users have an easy-to-use tool that scans their PC specifically for viruses and spyware. In addition to the scan feature, the Google Pack version of Norton Security Scan removes all existing viruses, trojans and worms found on a user's PC and provides them with helpful tips on how they can further improve their PC security. Norton Security Scan replaces Norton AntiVirus 2005 Special Edition which was part of the initial line-up of software when the Google Pack first launched in 2006.

"Offering Norton Security Scan through the Google Pack is the perfect way to reach the everyday Internet home user," said Rowan Trollope, vice president, engineering, consumer business unit, Symantec. "Our goal is to provide Internet users everywhere with a powerful and easy-to-use tool to help them evaluate, understand threats that may reside on their PCs and subsequently remove these threats quickly and efficiently."

At the click of a button, users who download Norton Security Scan can either run a full scan of their system or run a QuickScan, which is a fast scan of the areas of their computer that are most likely to be targeted by viruses. Norton Security Scan automatically receives regular detection updates, so it can effectively detect the latest virus and spyware threats. In addition, the tool features an easy-to-use interface which simplifies the process of scheduling weekly or on-demand scans. Norton Security Scan provides the complete and thorough scan and removal capabilities available with Norton's award winning Norton AntiVirus and Norton Internet Security.

Google Pack downloads and installs Norton Security Scan and other essential applications quickly and easily. Users will never miss out on new features in their favorite programs because the included Google

Updater keeps them up to date. Google Pack Beta is available in 12 languages, runs on Window XP and Vista, and supports Internet Explorer 6.0 and Firefox 1.0 and higher. Get Norton Security Scan as part of the Google Pack at http://pack.google.com .

About Symantec

Symantec is a global leader in infrastructure software, enabling businesses and consumers to have confidence in a connected world. The company helps customers protect their infrastructure, information, and interactions by delivering software and services that address risks to security, availability, compliance, and performance. Headquartered in Cupertino, Calif., Symantec has operations in 40 countries. More information is available at www.symantec.com .

NOTE TO EDITORS: If you would like additional information on Symantec Corporation and its products, please visit the Symantec News Room at http://www.symantec.com/news .

Symantec and the Symantec Logo are trademarks or registered trademarks of Symantec Corporation or its affiliates in the U.S. and other countries. Other names may be trademarks of their respective owners.

Google and Google Pack are trademarks of Google Inc. All other company and product names may be trademarks of the respective companies with which they are associated.

 

CONTACT:

Woodrow Mosqueda
Symantec Corporation
+1 (408) 517-8037
woodrow_mosqueda@symantec.com

Chris Walker
Connect Public Relations
+1 (480) 366-6015
chrisw@connectpr.com


SYMC:  This call was made on 02/04/07 @ $18.0
Rating:   Positive   $18.0 (02/04/07)
Closed:   05/03/2007 @ $19.11 (+6.17% in 88 days)
Target:   $22.00 (+22.22%) in Three months


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