HotViews Archive

Skip Navigation Links.
Collapse 2018 (58)2018 (58)
Collapse November (58)November (58)
Amazon reinvents the light switch
13 Nov 2018
Experian H1: growth driven by B2B proposition
13 Nov 2018
Great British Scaleups: The Fifth Generation – Day 1
13 Nov 2018
Kofax spends US$400m on Nuance for RPA
13 Nov 2018
Little first half cheer for Vodafone
13 Nov 2018
Hold on to your hats
13 Nov 2018
AXA helps Birdie take flight
13 Nov 2018
Cyan Forensics secures new funds
13 Nov 2018
SERVICES READY 2019: Challenges and Innovation for Professional Services in Tech
13 Nov 2018
SAP puts up $8bn for Qualtrics for CX data
12 Nov 2018
North London authorities to end shared IT service
12 Nov 2018
Virtual estate agent Nested raises a real £120m
12 Nov 2018
EduMe gets dosh to bring CBT to gig workers
12 Nov 2018
*NEW RESEARCH* BMC: Running and reinventing for its customers – and itself
12 Nov 2018
Gain access to TMV's Full UKHotViews and UKHotViewsExtra Articles
12 Nov 2018
Software and IT Services - Putting Finance at the Core: FINANCE READY 2019
12 Nov 2018
*NEW RESEARCH* Communisis – From Printer to Customer Experience Management
09 Nov 2018
Northgate wins first software deal in India
09 Nov 2018
Portify gets £1.3m to manage gig worker finances
09 Nov 2018
Rimini Street investing for growth
09 Nov 2018
Unisys revenue improves again in Q3
09 Nov 2018
InsurTech Yulife raises £3m for 'wellbeing' life insurance
09 Nov 2018
Equiniti benefits from strong year for IPOs
09 Nov 2018
ScaleUp Group scales up with new talent
09 Nov 2018
Accenture latest partner for ambitious scale-up Quantexa
08 Nov 2018
CGI UK bookings picture weakened by Brexit
08 Nov 2018
Atos/VMware team up on IoT practicalities
08 Nov 2018
Tracsis closes solid year of progress
08 Nov 2018
Conduent sees bumps in the road in Q3
08 Nov 2018
AdEPT buys ETS for healthcare UC
08 Nov 2018
H1 results reflect Xero's expansion activities
08 Nov 2018
Zopa banks another £16m to become a bank
08 Nov 2018
Home Office faces further criticism of police strategy
08 Nov 2018
CyberArk Q3 confirms strong demand for IAM
08 Nov 2018
Lloyds puts thought – and dosh – into Thought Machine
08 Nov 2018
Blue Wave or Blue Ripple?
08 Nov 2018
SCC acquires avsnet
07 Nov 2018
'Frugal' Ignitho ignites in the US
07 Nov 2018
aiden.ai - one for the mobile app marketers
07 Nov 2018
£50m invested in new AI centres for healthcare
07 Nov 2018
Speculation points to Symantec PE buyout
07 Nov 2018
Genpact delivers solid third quarter
07 Nov 2018
DXC fails to hit Q2 revenue target
07 Nov 2018
Partnerize finds new funding partner
07 Nov 2018
Starcom raises expectations
07 Nov 2018
Engineer.ai: blending humans and AI for app dev
07 Nov 2018
Subdued Sophos looks to FY20 for better results
07 Nov 2018
Capita renews Westminster Revs & Bens
07 Nov 2018
Paddle rows further with new funding
07 Nov 2018
Not a TechMarketView Client? Sign up to UKHotViewsPremium and reap the benefits of our archive
07 Nov 2018
FINANCE READY 2019: How Finance Professionals in Tech are preparing for the future
07 Nov 2018
Software drives strong H1 for First Derivatives as it moves to the edge
06 Nov 2018
*UKHotViewsEXTRA* Castleton: increasing cross-sell potential
06 Nov 2018
Tata toasts Carlsberg SD-WAN deployment
06 Nov 2018
Sharegain raises dosh to bring 'shorting' to the masses?
06 Nov 2018
Symantec boosts ailing enterprise business with dual acquisition
06 Nov 2018
OFGEM price cap hides smart meter price hike
06 Nov 2018
Great British Scaleups: The Fifth Dimension
06 Nov 2018

UKHotViews©

 

Tuesday 06 November 2018

Symantec boosts ailing enterprise business with dual acquisition

Symantec boosts ailing enterprise business with acquisitionsSymantec hopes two acquisitions will help it turn around the fortunes of its declining enterprise security business. The first, involving US start-up Appthority expands its endpoint threat detection capabilities for mobile devices while the second, involving privately-held Israeli company Javelin Networks, specialises in protecting Windows domains from Active Directory (AD) attacks.

The two investments (terms of which were not disclosed) follow more disappointing results for Symantec’s enterprise business revealed last week after a similarly poor first quarter. The completion of the audit committee investigation launched last May (see Symantec FY clouded by investigation) was a positive in the discovery of a relatively minor US$12m financial discrepancy, while operating income improved to US$102m from a US$9m loss in Q218 at the onset of restructuring programme that could eventually lead to 8% of the company’s workforce being shed.

But the good news largely stopped there, with Symantec’s total revenue dipping 5% yoy to US$1.18bn from US$1.24bn in Q219 and its net loss improving only slightly from US$12m to US$8m during the same period. And once again, the enterprise business fared much worse than headline figures that included consumer billings suggested, down a hefty 16% yoy to US$574m in Q219.

Management point to a historically soft second quarter for enterprise sales which is usually followed by a seasonal spike in the second half of the year. and is confident that Symantec now has the portfolio in place to exploit that pipeline.

There is no doubt that the Appthority and Javelin Networks additions will strengthen a Symantec enterprise product and service portfolio that in recent years has evolved to give IT departments more even protection across on-premise, cloud hosted and mobile applications. But the proof will come in the company’s ability to work with its channel partners to win more deals, and negotiate larger contract values, amongst its corporate and SME customer base, not only over the next six months but in FY20 and beyond.

Posted by Martin Courtney at '08:46' - Tagged: acquisitions   resullts   cybersecurity   Symantec   Appthority   JavelinNetworks  

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link




© TechMarketView LLP 2007-2018: Unauthorised reproduction prohibited see full Terms and Conditions.