Integrated Cyber Defense Platform increased traction
Let’s discuss how Integrated Cyber Defense Platform, Symantec’s (SYMC) comprehensive cloud security offering released earlier this year, performed in fiscal 1Q18[1. fiscal 1Q18 ended June 30, 2017] and how the Fireglass acquisition could enhance its prospects.
Noting that the Integrated Cyber Defense Platform is “becoming a significant competitive differentiator” to Symantec, the company stated one of the largest financial technology companies bought its entire platform in 1Q18. The integration with Blue Coat served as the key driver to enable customers to save millions of dollars per year and to increase administrative efficiency and operating simplicity by standardizing on Symantec’s platform. This development helped Symantec displace its four competitors and win new business.
According to Greg Clark, Symantec’s CEO, a rise in sophisticated ransomware and cybersecurity attacks like WannaCry and Petya has highlighted the importance of a platform approach. The company noted that its Integrated Cyber Defense offering saw “strong competitive momentum,” indicating the importance and effectiveness of the present installed base.
Fireglass acquisition could enhance Cyber Defense Platform offering
To further strengthen its Integrated Cyber Defense platform, Symantec acquired Fireglass and Skycure. Fireglass removes malware and ransomware by halting potential harmful contents from reaching the corporate network or user endpoints. The company noted that this acquisition strengthens Symantec’s Integrated Cyber Defense Platform and enhances its “leadership in Secure Web Gateway and Email protection delivered both on premises and in the cloud.”
Skycure’s specialty in threat security defense of mobile devices could bolster Symantec’s platform and its position in the overall online security space.