CUPERTINO, Calif. - Aug. 16, 2004 - Symantec Corp. (Nasdaq: SYMC), the global leader in information security, today announced that Yankee Group recognized Symantec as an early leader in security risk management (SRM) in their July 2004 Security Solutions and Services Report on the managed security services market. In the report, Yankee Group discusses the evolution of managed security services and the development of SRM, providing market forecasts, convergence trends, and recommendations to enterprises, security technology vendors, and managed security service providers (MSSPs). The report competitively positioned vendors in the security risk management space based on their ability to execute and breadth of offerings, with Symantec being the only vendor to receive a 'high' ranking in both categories.
"We're honored that Yankee Group has recognized Symantec as a leader in the security risk management space," said Grant Geyer, vice president of Global Managed Security Services at Symantec. "Today's enterprises are acknowledging the impact a managed security services provider can have as a trusted advisor who shares in the risk and responsibility of their security programs. Symantec Managed Security Services provides organizations with the industry's most extensive security expertise and around-the-clock security protection, advanced analysis, global intelligence correlation, and broad response capabilities to ensure that security risks are managed and prevented.
According to the report, managed security service revenue will grow from $1.5 billion in 2002 to $3.7 billion in 2008. Driving this market growth is the fact that enterprises are shifting away from point solutions and threat detection and toward integrated solutions and threat prevention. Yankee Group identified components such as intelligence and the ability to rapidly deploy new security countermeasures as the real intellectual property for security, and emphasized that enterprises will choose MSSPs with the most experienced security gurus to thwart new threats.
"Symantec Managed Security Services' breadth of offerings, their depth of expertise in security analysis and consulting, and the intelligence that is generated by their global network of security operations centers, positions them well to be an early leader in the security risk management space," said Matthew Kovar, vice president, Security Solutions & Services at the Yankee Group. "Simple detection and alerting is no longer sufficient to help mitigate today's evolving threats as enterprises look to service providers who can function as trusted advisors who share in their risk and responsibility. Symantec Managed Security Services has responded by integrating and expanding their services efforts to focus on prevention and ensure customer risk reduction, and it has earned them the reputation of being one of the industry's most trusted managed security service providers."
Yankee Group believes enterprises will turn to MSSPs to provide most of their security solutions during the next five years and will outsource almost 90 percent of their solutions by the end of the decade. As a result, security will become one of the largest business process outsourcing solutions, rivaling BPOs such as HR, F&A and supply-chain management.
Part of Symantec's Enterprise Security Services, Symantec Managed Security Services leverages global intelligence to offer fast and accurate analysis of security data to protect customers against emerging threats and reduce overall security risk. Its 24x7 real-time services enhance an organization's information security posture through continuous monitoring and management, expert analysis, and immediate response to potential security threats. In addition, Symantec's SOCs have been fully audited and certified by independent third parties to meet industry leading standards, including BS7799 certification and SAS70 Type II audits.
Symantec is the world leader in providing solutions to help individuals and enterprises assure the security, availability, and integrity of their information. Headquartered in Cupertino, Calif., Symantec has operations in more than 40 countries. More information is available at www.symantec.com.
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