IM and Security areas forking at Symantec

MOUNTAIN VIEW, USA: Symantec Corp. announced that its Board of Directors has unanimously approved a plan to separate the company into two, independent publicly traded companies: one business focused on security and one business focused on information management (IM).

Symantec’s decision to pursue a separation follows an extensive business review of the company’s strategy and operational structure. Creating two standalone businesses will allow each entity to maximize its respective growth opportunities and drive greater shareholder value, as per a press note.

“As the security and storage industries continue to change at an accelerating pace, Symantec’s security and IM businesses each face unique market opportunities and challenges. It has become clear that winning in both security and information management requires distinct strategies, focused investments and go-­‐to market innovation,” said Michael A. Brown, Symantec president and chief executive officer. “Separating Symantec into two, independent publicly traded companies will provide each business the flexibility and focus to drive growth and enhance shareholder value.”