Previously, we discussed Symantec’s (SYMC) Enterprise Security segment’s performance in fiscal 2Q18. In this part, we’ll look at Symantec’s Integrated Cyber Defense Platform, the company’s comprehensive cloud security offering, which unifies on-premises and cloud security to protect users’ information. Symantec CEO Greg Clark believes that superior protection, cross-offering integration, and lower TCO (total cost of ownership) have led customers to choose this platform to standardize their IT (information technology) architecture. According to Clark, “Adoption of our Integrated Cyber Defense platform is leading to an increase in the number of larger and multi-product deals, which is a strong validation that customers are designing Symantec into their future security architectures.”
Factors driving adoption
In the past, Clark said that the rise of sophisticated ransomware and cybersecurity attacks such as WannaCry and Petya highlighted the importance of a platform approach. The recent Equifax (EFX) breach is another reminder of the importance of digital safety. The breach may have helped the company add a considerable number of LifeLock members, though Symantec didn’t specify the figures. The strategic acquisition of Fireglass and Skycure strengthened Symantec’s Integrated Cyber Defense Platform. In the next part, we’ll discuss how new product releases could drive Symantec’s top-line growth.