SINGAPORE – March 21, 2012 – Symantec Corp. (Nasdaq: SYMC) today announced it has signed a definitive agreement to acquire Nukona, Inc., a privately-held provider of mobile application management (MAM). The acquisition extends Symantec's enterprise mobility portfolio to include a cross-platform mobile application protection solution to help IT organizations protect and isolate corporate data and applications across both corporate owned and personally owned devices. The transaction is expected to close in April and is subject to customary closing conditions. The financial terms of the acquisition are not being disclosed.
The acquisition of Nukona complements Symantec's acquisition earlier this month of Odyssey Software, a leading provider of mobile device management (MDM). Odyssey provides the MDM foundation to enroll and manage all necessary device settings across a broad range of platforms, while Nukona provides an innovative approach to help enterprises seamlessly distribute, secure and control applications and data without requiring them to manage the devices. By offering both MDM and MAM across multiple platforms, Symantec will enable CIOs to say "yes" to the onslaught of digital natives – people born in a world of connectivity – demanding to use devices and apps of their choice. Symantec will help customers secure enterprise critical mobile apps and data while managing and protecting them with policies, including authenticating users, encrypting sensitive files, preventing data leakage and selectively wiping corporate data. These acquisitions further advance Symantec's enterprise mobility leadership by enhancing capabilities for mobile device, application and data protection.
"As the adoption of mobile devices and apps continues to grow at an unprecedented rate, one of the biggest challenges for customers is to protect and manage the native apps, data and environments of these devices," said CJ Desai, senior vice president, Endpoint and Mobility Group, Symantec. "The acquisition of Nukona helps us further address the 'Consumerization of IT' and 'Bring Your Own Device' trends by helping organizations protect and isolate corporate data and applications across both corporate owned and personally owned devices."
With Nukona's ability to natively protect and control iOS, Android and HTML5 apps, Symantec will address the core problem of corporate and personal data separation without limiting the end-user experience or application adoption. By securely distributing and managing mobile applications and content, Symantec customers will be able to address corporate data security concerns around data leakage, encryption and authentication on a per-application basis, for both BYOD and corporate owned devices.
Unlike traditional proprietary sandbox solutions, Symantec's approach will extend application protection that "wraps" both native and web-based apps with a management layer that allows IT to apply security policies without requiring any changes to the applications, leaving personal apps and activities untouched. In addition, the flexibility of cloud-based and on-prem enterprise app stores helps provide a seamless and scalable way to enable mobile application deployments. Nukona's secure content library also allows for the protection and synchronization of documents without risk of data loss.
According to Symantec's recent State of Mobility Survey, the average annual cost of mobile incidents for enterprises, including data loss, damage to the brand, productivity loss and loss of customer trust, was USD$429,000. However, despite the risks, an uptick in mobile applications across organizations is taking place with 71 percent of enterprises at least discussing deploying custom mobile applications and one-third currently implementing or having already implemented custom mobile applications. In addition, 59 percent of enterprises are making line-of-business applications accessible from mobile devices, representing a dramatic shift in the nature of mobility from an email extension to a core business enabler.
For more information, go to http://go.symantec.com/Nukona_Odyssey.
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Forward-looking Statements: This press release contains forward-looking statements within the meaning of U.S. federal securities laws, including expectations regarding the closing of the acquisition of Nukona, Inc. and the integration of its products and technologies into Symantec's products and solutions, that involve known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied in this press release. Such risk factors include, among others, satisfaction of closing conditions to the transaction, our ability to successfully integrate the merged business and technology, and customer demand for the technology and integrated product offerings. Actual results may differ materially from those contained in the forward-looking statements contained in this press release. Additional information concerning these and other risk factors is contained in the Risk Factors section of Symantec's most recently filed Form 10-K. Symantec assumes no obligation to update any forward-looking statement contained in this press release. The contents of the Symantec website shall not be deemed incorporated by reference into this press release. Any forward-looking indication of plans for products is preliminary and all future release dates are tentative and are subject to change. Any future release of the product or planned modifications to product capability, functionality, or feature are subject to ongoing evaluation by Symantec, and may or may not be implemented and should not be considered firm commitments by Symantec and should not be relied upon in making purchasing decisions.
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