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Where Symantec Stands after Its Fiscal 1Q18 Earnings

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Part 6
Where Symantec Stands after Its Fiscal 1Q18 Earnings PART 6 OF 20

How Skycure Could Benefit Symantec in the Changing IT Environment

Mobile is core component of Symantec’s strategy

Earlier in this series, we discussed Symantec’s (SYMC) acquisition of Skycure, whose specialization lies in the prediction, detection, and prevention of malware, and other attacks. It also provides network security from Apple’s (AAPL) iOS to Google’s (GOOG) Android and Microsoft (MSFT) Windows, which could be instrumental in securing Symantec’s position in the ever-expanding mobile security space.

Greg Clark, Symantec’s CEO, noted, “We believe that tomorrow’s workforce will be completely mobile and will demand a cyber defense solution that travels with them. Mobile is a core component of our strategy and the acquisition of Skycure is a major step forward in executing it.”
How Skycure Could Benefit Symantec in the Changing IT Environment

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The Skycure deal is expected to close in the current quarter. After its buyout finalization, Skycure technologies would be available to Symantec’s Norton Antivirus and Endpoint Protection customers, as well as its partners.

Factors shaping the cybersecurity and IT landscape

Rapid innovation and developments in the cloud, big data, and mobile computing have transformed the IT sector. The following trends and technologies are changing the cybersecurity landscape:

  • BYOD (bring-your-own-device) concept
  • SMAC (social, mobile, analytics, and cloud) revolution
  • the growing usage of social media within organizations and enterprises
  • an increase in the mobile workforce

These trends have enabled enterprise users and consumers to access confidential data and information from anywhere, without the limits of data centers and firewalls. Skycure has leveraged this need to focus on mobile technology, as the line between professional and personal IT equipment continues to blur. This trend has motivated companies to become increasingly vigilant for security threats, which Symantec expects to address by acquiring Skycure.

Skycure’s acquisition could push Symantec to position itself as a strategic partner for telecom companies looking to build and develop mobile security services for their end users.

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