Cybersecurity specialist Symantec Corp. (SYMC) has made headlines with the announcements of two large acquisitions of smaller security specialists over the past year.
Symantec’s growth-by-buyout strategy is part of a larger initiative, as the firm transforms from bulky systems sales to offer cloud-based security solutions to enterprises and consumers alike.
Blue Coat Boosts Enterprise Security Segment
In June, the Mountain View, Calif.-based cybersecurity pioneer announced plans to buy cloud security platform Blue Coat Systems in a deal worth $4.65 billion. Symantec’s integration of Blue Coat boosted the firm’s enterprise security segment, which constituted 60% of total revenues in fiscal Q217. The segment, including endpoint security and user authentication, saw non-GAAP revenue surge 24% to $610 million in the most recent quarter. With Blue Coat, Symantec can now boast a comprehensive suite of enterprise security solutions for email, cloud, endpoint and network security.