Click here to close now.




















Welcome!

Agile Computing Authors: Elizabeth White, Gregor Petri, Carmen Gonzalez, Dennis Griffin, Greg O'Connor

News Feed Item

Symantec Announces New Strategy

MOUNTAIN VIEW, CA -- (Marketwire) -- 01/23/13 -- Symantec Corp. (NASDAQ: SYMC) today announced a new strategy that will streamline and simplify the company so it can deliver significantly improved performance for customers and partners.

Click to Tweet: #Symantec announces new corporate strategy and product focus areas http://bit.ly/ViCEqb

Strategy

"Symantec's strategy is clear: We want to enable people, businesses and countries to focus their energies and time on achieving their aspirations, instead of being consumed with how to keep their digital lives safe and protected," said Steve Bennett, Symantec president and chief executive officer. "This is a story about more focus and better execution by Symantec to make things better and easier for our customers and partners. Our path is straightforward: Offer better products and services tailor made for customers, and make it easier for them to research, shop, buy, use, and get the help and support they need."

Offerings

Symantec's goal is to continue to improve its existing products and services, and at the same time develop new, innovative products and services that solve important unmet or underserved needs. Over time customers will have more and better choices that will continue to meet their evolving needs and deliver better value. Symantec is focusing on 10 key areas that combine existing products and services into new, innovative and comprehensive solutions that meet multiple customer needs with integrated and higher value offerings. The overall development process is estimated to take six to 24 months depending on the specific offering.

These future offerings are intended to align with meeting three key customer needs: Making it simple to be productive and protected at home and work; keeping businesses safe and compliant; and keeping business information and applications up and running. As such, Symantec is focusing on and considering the development of offerings in the following core areas: Mobile Workforce Productivity, Norton Protection, Norton Cloud, Information Security Services, Identity/Content-Aware Security Gateway, Data Center Security, Business Continuity, Integrated Backup, Cloud-Based Information Management, and Object Storage Platform.

"Customers will still be able to pick and choose the solutions they want to use, but from a broader menu of innovative products with higher value," Bennett said. "We're not offering packages that they have to take it or leave it. Customers can still decide what's right for them and buy accordingly, but have the added option of migrating to new integrated offerings which provide added flexibility we know they will need to combat constantly evolving threats, particularly via mobile and the cloud."

In order to continue delivering value to customers in the future, Symantec will increase its investment in research and development and homegrown innovation to better meet next generation needs. Symantec will also establish strategic partnerships where it can integrate what it does with others to add even more value for customers. This will help customers stay ahead of increasingly challenging information and protection challenges at the endpoint, network and data center levels.

"There is a huge set of underserved and unmet needs that customers are experiencing with regards to protecting, moving and managing their information on multiple devices," continued Bennett. "With our resources and know-how, we are in a better position to meet those needs than anyone. We have the infrastructure to deliver real value to help customers and this new strategy will improve both our focus and execution. We also have the expertise to know and see what they're going to need next. It's a question of alignment and regaining focus on the current and future needs of customers via a renewed emphasis on innovation plus developing new technology."

Operations and Organization

Symantec's sales process will continue to rely heavily on the channel to manage current customers and free up Symantec's sales force to focus on generating new business. Symantec will also enhance the marketing organization with more strategic resources and capability to accelerate focus and organic growth.

Symantec has created a new Office of the CEO. A small team of executives (chief financial officer, president of products and services, and chief operating officer) has been established to make collective operational and functional decisions with Bennett on a daily basis. Also reporting directly into the CEO are direct reports based on function (such as HR, Finance, Legal, etc.) and the sales geography leaders. A group of extended staff -- including the chief officers of functions such as IT, marketing, communications, and technology -- will be another group reporting into the CEO.

In order to make the company more flexible and able to adapt quicker to the needs of customers, more emphasis will be placed on giving front-line employees greater empowerment, input and discretion in addressing customers' needs on a day to day basis. As such, there will be fewer executives and middle management positions, resulting in a reduction of the workforce. This process is expected to be completed by the end of June 2013.

"Symantec is a strong company with leadership products, brands and great employees," said Bennett. "Past leaders and employees of this company have left an outstanding legacy of assets for us to build upon as we move forward. The next step is to change things that allow us to adapt quicker to the marketplace, and in the end, continue Symantec's tradition and high standards for delivering tremendous value to our employees, customers, partners and shareholders."

Financial Implications

As we execute on our strategy and operational plan we are committed to deliver more than 5% organic revenue growth and non-GAAP operating margins better than 30% over the next two to three years.

The coming year will include significant transitions as we begin to improve our growth capabilities, establish a dedicated renewals team, refocus our direct field sales representatives on new business and eliminate duplicative organization and operating structures. As such, we expect organic revenue growth between 0% and 2% in FY14. However, we have identified many opportunities to drive efficiencies and redeploy resources which will remove duplication and complexity. As a result, we expect non-GAAP operating margins to increase by approximately 200 basis points in FY14. Our initial estimate for severance payments of approximately $275 million will impact cash flows in FY14.

After FY14, organic revenue is expected to build steadily driving a CAGR of more than 5% during the FY15-FY17 period as we execute on our plans. We expect to increase non-GAAP operating margins by another approximately 200 basis points in FY15. As such, we are targeting to reach 30% non-GAAP operating margins by the end of FY15.

Webcast

Symantec has scheduled a Webcast from 4:30 p.m. ET/1:30 p.m. PT to 6:30 p.m. ET/3:30 p.m. PT today to discuss the Company's strategic direction, operational plan, capital allocation strategy and financial results, including guidance. To listen to the live event and view the corresponding presentation, please go to http://www.symantec.com/invest at least 15 minutes early to register, download and install any necessary audio software. A replay of the webcast including presentation will be available within 24 hours after the event.

Connect with Symantec

About Symantec

Symantec protects the world's information, and is a global leader in security, backup and availability solutions. Our innovative products and services protect people and information in any environment -- from the smallest mobile device, to the enterprise data center, to cloud-based systems. Our world-renowned expertise in protecting data, identities and interactions gives our customer's confidence in a connected world. More information is available at www.symantec.com or by connecting with Symantec at: go.symantec.com/socialmedia.

FORWARD-LOOKING STATEMENTS: Any information regarding pre-release Symantec offerings, future updates or other planned modifications is subject to ongoing evaluation by Symantec and therefore subject to change. This information is provided without warranty of any kind, express or implied. Customers who purchase Symantec offerings should make their purchase decision based upon features that are currently available.

This press release contains statements regarding our intention to execute a new strategy, implement operational and organizational changes and our projected financial and business results, which may be considered forward-looking within the meaning of the U.S. federal securities laws, including projections of future revenue and operating margin as well as projections of restructuring charges. These statements are subject to known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied in this press release. Such risk factors include those related to: general economic conditions; maintaining customer and partner relationships; the anticipated growth of certain market segments, particularly with regard to security and storage; the competitive environment in the software industry; changes to operating systems and product strategy by vendors of operating systems; fluctuations in currency exchange rates; the timing and market acceptance of new product releases and upgrades; the successful development of new offerings and integration of acquired businesses, and the degree to which these offerings and businesses gain market acceptance. Actual results may differ materially from those contained in the forward-looking statements in this press release. We assume no obligation, and do not intend to update these forward-looking statements as a result of future events or developments. Additional information concerning these and other risks factors is contained in the Risk Factors sections of our Form 10-K for the year ended March 30, 2012 and our Current Report on Form 8-K filed on June 11, 2012.

USE OF NON-GAAP FINANCIAL INFORMATION: Our results of operations have undergone significant change due to a series of acquisitions, the impact of stock-based compensation, impairment charges and other corporate events. To help our readers understand our past financial performance and our future results, we supplement the financial results that we provide in accordance with generally accepted accounting principles, or GAAP, with non-GAAP financial measures. The method we use to produce non-GAAP results is not computed according to GAAP and may differ from the methods used by other companies. Our non-GAAP results are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. Our management regularly uses our supplemental non-GAAP financial measures internally to understand, manage and evaluate our business and make operating decisions. These non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. Investors are encouraged to review the reconciliation of our non-GAAP financial measures to the comparable GAAP results, which is attached to our quarterly earnings release and which can be found, along with other financial information, on the investor relations' page of our Web site at www.symantec.com/invest.

MEDIA CONTACTS:
Cris Paden
Symantec Corp.
650/527-5526
Email Contact

Smita Rode
Weber Shandwick
415/262-9977
Email Contact

INVESTOR CONTACT:
Helyn Corcos
Symantec
650/527-5523
Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
With the proliferation of connected devices underpinning new Internet of Things systems, Brandon Schulz, Director of Luxoft IoT – Retail, will be looking at the transformation of the retail customer experience in brick and mortar stores in his session at @ThingsExpo. Questions he will address include: Will beacons drop to the wayside like QR codes, or be a proximity-based profit driver? How will the customer experience change in stores of all types when everything can be instrumented and analyzed? As an area of investment, how might a retail company move towards an innovation methodolo...
Manufacturing connected IoT versions of traditional products requires more than multiple deep technology skills. It also requires a shift in mindset, to realize that connected, sensor-enabled “things” act more like services than what we usually think of as products. In his session at @ThingsExpo, David Friedman, CEO and co-founder of Ayla Networks, will discuss how when sensors start generating detailed real-world data about products and how they’re being used, smart manufacturers can use the data to create additional revenue streams, such as improved warranties or premium features. Or slash...
Contrary to mainstream media attention, the multiple possibilities of how consumer IoT will transform our everyday lives aren’t the only angle of this headline-gaining trend. There’s a huge opportunity for “industrial IoT” and “Smart Cities” to impact the world in the same capacity – especially during critical situations. For example, a community water dam that needs to release water can leverage embedded critical communications logic to alert the appropriate individuals, on the right device, as soon as they are needed to take action.
WebRTC services have already permeated corporate communications in the form of videoconferencing solutions. However, WebRTC has the potential of going beyond and catalyzing a new class of services providing more than calls with capabilities such as mass-scale real-time media broadcasting, enriched and augmented video, person-to-machine and machine-to-machine communications. In his session at @ThingsExpo, Luis Lopez, CEO of Kurento, will introduce the technologies required for implementing these ideas and some early experiments performed in the Kurento open source software community in areas ...
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
While many app developers are comfortable building apps for the smartphone, there is a whole new world out there. In his session at @ThingsExpo, Narayan Sainaney, Co-founder and CTO of Mojio, will discuss how the business case for connected car apps is growing and, with open platform companies having already done the heavy lifting, there really is no barrier to entry.
All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo, November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be.
As more intelligent IoT applications shift into gear, they’re merging into the ever-increasing traffic flow of the Internet. It won’t be long before we experience bottlenecks, as IoT traffic peaks during rush hours. Organizations that are unprepared will find themselves by the side of the road unable to cross back into the fast lane. As billions of new devices begin to communicate and exchange data – will your infrastructure be scalable enough to handle this new interconnected world?
The Internet of Things is in the early stages of mainstream deployment but it promises to unlock value and rapidly transform how organizations manage, operationalize, and monetize their assets. IoT is a complex structure of hardware, sensors, applications, analytics and devices that need to be able to communicate geographically and across all functions. Once the data is collected from numerous endpoints, the challenge then becomes converting it into actionable insight.
SYS-CON Events announced today that IceWarp will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IceWarp, the leader of cloud and on-premise messaging, delivers secured email, chat, documents, conferencing and collaboration to today's mobile workforce, all in one unified interface
SYS-CON Events announced today that Micron Technology, Inc., a global leader in advanced semiconductor systems, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Micron’s broad portfolio of high-performance memory technologies – including DRAM, NAND and NOR Flash – is the basis for solid state drives, modules, multichip packages and other system solutions. Backed by more than 35 years of technology leadership, Micron's memory solutions enable the world's most innovative computing, consumer,...
With the Apple Watch making its way onto wrists all over the world, it’s only a matter of time before it becomes a staple in the workplace. In fact, Forrester reported that 68 percent of technology and business decision-makers characterize wearables as a top priority for 2015. Recognizing their business value early on, FinancialForce.com was the first to bring ERP to wearables, helping streamline communication across front and back office functions. In his session at @ThingsExpo, Kevin Roberts, GM of Platform at FinancialForce.com, will discuss the value of business applications on wearable ...
As more and more data is generated from a variety of connected devices, the need to get insights from this data and predict future behavior and trends is increasingly essential for businesses. Real-time stream processing is needed in a variety of different industries such as Manufacturing, Oil and Gas, Automobile, Finance, Online Retail, Smart Grids, and Healthcare. Azure Stream Analytics is a fully managed distributed stream computation service that provides low latency, scalable processing of streaming data in the cloud with an enterprise grade SLA. It features built-in integration with Azur...
SYS-CON Events announced today the Containers & Microservices Bootcamp, being held November 3-4, 2015, in conjunction with 17th Cloud Expo, @ThingsExpo, and @DevOpsSummit at the Santa Clara Convention Center in Santa Clara, CA. This is your chance to get started with the latest technology in the industry. Combined with real-world scenarios and use cases, the Containers and Microservices Bootcamp, led by Janakiram MSV, a Microsoft Regional Director, will include presentations as well as hands-on demos and comprehensive walkthroughs.
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises are using some form of XaaS – software, platform, and infrastructure as a service.
SYS-CON Events announced today that the "Second Containers & Microservices Expo" will take place November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities.
Akana has announced the availability of the new Akana Healthcare Solution. The API-driven solution helps healthcare organizations accelerate their transition to being secure, digitally interoperable businesses. It leverages the Health Level Seven International Fast Healthcare Interoperability Resources (HL7 FHIR) standard to enable broader business use of medical data. Akana developed the Healthcare Solution in response to healthcare businesses that want to increase electronic, multi-device access to health records while reducing operating costs and complying with government regulations.
Containers are not new, but renewed commitments to performance, flexibility, and agility have propelled them to the top of the agenda today. By working without the need for virtualization and its overhead, containers are seen as the perfect way to deploy apps and services across multiple clouds. Containers can handle anything from file types to operating systems and services, including microservices. What are microservices? Unlike what the name implies, microservices are not necessarily small, but are focused on specific tasks. The ability for developers to deploy multiple containers – thous...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal an...