Behind Symantec’s Recent Buyout Spree (SYMC, LOCK)

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.

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