On October 09, 2014 - Symantec 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 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.
“Taking this decisive step forward will enable each business to maximize its potential.
Both businesses will have substantial operational and financial scale to thrive.”
–Michael A. Brown
Symantec Announces New Strategy to Fuel Growth and Plans to Separate into Two Public Industry-Leading Technology Companies Learn more
Update – February 5, 2015
On January 28, we announced that the new information management company would be known as Veritas Technologies Corporation
. We have begun to realign the sales and marketing organizations to support both businesses, starting with two new global sales leaders: Adrian Jones
for Symantec and Brett Shirk
for Veritas. We are preparing the Symantec and Veritas sales organizations to operate independently at the start of the Symantec fiscal year at the beginning of April, 2015. Over the coming months we will begin sharing details on each business’ territory coverage and sales structure. The separation remains on track for the end of the year, and we continue to expect to deliver better results for customers, partners and shareholders.