Symantec's future seems to be secure. The company provides security, storage, and systems management software for businesses and consumers. Symantec's applications handle such functions as virus protection, PC maintenance, data backup and recovery, intrusion detection, data loss prevention, spam control, content filtering, and remote server management. The company also provides managed services and training. Symantec is probably best known for its popular Norton family of consumer security software, which the company markets to PC users worldwide.
The company's corporate headquarters are located in Mountain View, California. Symantec has operations in more than 50 countries throughout the Americas, Europe, the Middle East, Africa, Asia Pacific/Japan, and Latin America. Slightly more than half of sales come from outside the US.
Symantec divides itself into four operating segments: Consumer, Security and Compliance, Storage and Server Management, and Services.
Its Consumer segment focuses on delivering Internet security for PCs, tablets, and mobile devices along with services such as online backup, online family protection, and remote help to individual users and home offices.
The company's Security and Compliance segment focuses on providing businesses with solutions for endpoint security and management, compliance, mail security, data loss prevention, encryption, managed security services, and authentication services.
The Storage and Server Management segment focuses on providing businesses with storage and server management, backup, archiving, eDiscovery, and data protection solutions.
Its Services segment provides customers with implementation services and solutions designed to assist them in maximizing the value of their Symantec software. Offerings include consulting, business critical services, and education.
Sales and Marketing
Symantec sells its products through a direct sales force, as well as through distributors, resellers, computer manufacturers, and systems integrators.
Symantec's revenue increased by 3% to $6.9 billion in fiscal 2013 compared to the $6.7 billion it reported for revenue in fiscal 2012. The spike was due to increases from its Storage and Server Management segment and the Security and Compliance segment. The company’s net income was $765 million in fiscal 2013, a 35% decrease compared to the previous year's $1.17 billion in net income, mostly because of increased operating expenses.
The company generates most of its revenues from enterprise infrastructure management, security and compliance applications, and services. Delving into the market for cloud computing, where users access applications over the Internet rather than installing software on their own computers, the company offers a variety of applications through Symantec Hosted Services. Also known as software-as-a-service (SaaS), the field is seen as a growth area by Symantec.
Since 2013, Symantec has been concentrating on the unmet needs of the businesses and consumers seeking to fully protect information on multiple devices. The company has pledged to constantly improve its existing products, services, and technology enabling customers to keep their digital lives more and more secure.
Mergers and Acquisitions
Symantec has pursued an aggressive acquisition strategy to grow its enterprise business. In 2012 the company acquired mobile application management software developer Nukona to complement its previous purchase that year of Odyssey Software, a maker of similar applications. The deals are part of Symantec's push to build its line of products for protecting and managing mobile apps and data as global demand for wireless devices continues to grow.
The company also fluffed up its cloud capabilities during the year with the $115 million purchase of archiving provider LiveOffice, which offers its information storage and management on demand. In 2011 the company paid about $390 million for legal software developer Clearwell Systems. The deal added electronic discovery tools used by businesses to automate and manage functions related to government regulatory compliance and legal proceedings, among other uses.
Symantec also held a 49% stake in a joint venture with Huawei Technologies that develops security and storage products for telecom service providers. The company had reported losses on the venture every year since its formation, and in 2012 sold its stake to Huawei for $530 million.