Cupertino, Calif, July 21, 1999 - Symantec Corporation (Nasdaq: SYMC) today announced a strategy to focus the company on the rapidly growing markets of content security and management solutions that keep mobile workers who use remote devices secure and productive.
The strategy builds on Symantec's expertise as a leader in anti-virus and remote connectivity. To support the company's content security thrust, Symantec has also announced its acquisition of URLabs, based in Hampton, Va., a technology leader in the development of Internet access control and email scanning solutions.
"Symantec has been an innovator in harnessing the Internet to deliver solutions that meet specific customer needs," said Symantec president, CEO and chairman, John W. Thompson. "Our new strategy leverages this core competency and makes the Internet the common thread in everything we do. We intend to develop content security solutions to keep customers' data and networks secure when they interact with the Internet, and create tools that use the Internet to keep remote users productive and secure."
In the last 12 months, Symantec has grown corporate revenue by 68 percent to represent almost half of total revenue. The company plans to increase its focus on developing solutions that meet the needs of enterprise organizations. At the same time, Symantec intends to build on its position as the leading* vendor in the consumer market.
* PC Data reports April, May and June 1999
To meet enterprise customers' content security and remote device support needs, Symantec plans to develop web-based solutions that are scaleable, manageable and support multiple platforms. "The web is based on more than Windows," said Thompson. "We must support a broader range of platforms including the UNIX and Linux environments."
In the consumer market, Symantec's strategy is to leverage its enterprise content security solutions to bring industrial strength protection to consumers and small businesses. Symantec also intends to build on its close relationship with the reseller channel and expand its e-commerce activity. In the past 12 months, Symantec has increased revenue from e-commerce sales by 166 percent by selling direct to end-users and partnering with leading e-commerce resellers. On July 14, Symantec announced the first of a worldwide chain of on-line stores at http://www.symantecstore.com designed and managed by Beyond.com.
Building on its strength as a leading provider of anti-virus technology, Symantec plans to provide solutions that filter Internet content, protect against unknown threats and block unwarranted or unauthorized intrusion to enable corporations to extend their business securely without exposing their systems and data to unnecessary risk. According to analyst firm, International Data Corporation, the content security market will be worth $4 billion by the year 2003.
In addition to providing leading edge and highly scaleable technologies in Internet access control and dynamic content scanning, the acquisition of URLabs accelerates and extends Symantec's leadership in content security and expertise in a broad range of platforms. The acquisition also augments the company's own development in broader security solutions for both client and server applications.
In May this year, Symantec also announced a framework for future security technologies. The Digital Immune System® strategy is to combine Symantec's award-winning virus detection technologies with virus analysis technology from IBM®, and systems and policy management technology from Intel®. Future Symantec products are expected to be integrated into the Digital Immune System to enable customers to keep networks running at peak performance.
Remote Device Management
With market-leading solutions like pcANYWHERE and new products such as Mobile Essentials 2.0, Symantec is a leader in remote PC connectivity. The company plans to expand its range of connectivity and remote management solutions for laptop computers and then extend its expertise to include other remote devices such as smart phones and handheld companions - devices forecasted to increase in sales by more than 40 percent a year.
The market for laptop computers is forecasted to continue to grow at a rate of 29 percent annually, and by 2000, analyst firm GIGA expects that 90 percent of all laptops sold will be the users' primary computing device.
As enterprise organizations' reliance on laptop computers continues to rise, so too will the cost of supporting and managing them. According to The Helpdesk Institute and research firm the Gartner Group, it costs $400 a year to support a remote worker, who generates four times as many calls to helpdesks than desktop users, compared to $120 for a LAN worker.
John Thompson concluded: "With this strategy, Symantec's aim is to be the world leader in Internet security by providing solutions that enable our customers to interact securely with the Internet in a simple manner."
Forward Looking Statements
This press release contains forward-looking statements. There are certain important factors that could cause Symantec's future development efforts to differ materially from those anticipated by some of the statements made above. Among these are the anticipation of the growth of certain market segments, the positioning of Symantec's products in those segments, the competitive environment in the software industry, dependence on other products, changes to operating systems and product strategy by vendors of operating systems, and the importance of new Symantec products. Additional information concerning those and other factors is contained in the "Risk Factors" section of the company's annual report on Form 10-K for the fiscal year ended April 2, 1999.
Symantec is a world leader in Internet security technology and technology solutions that help companies manage and support workforces that use laptop computers and other mobile devices.
The company is a leading provider of software products for the consumer market and is rapidly growing its presence as a provider of solutions to enterprise organizations
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