Symantec Announces That It Will Split Into Two Public Companies

📅 October 10, 2014 - Symantec announced on Thursday that it will split its company into two, with one focused on information management and the other on security.

Symantec chief executive Michael A. Brown noted that separating the companies will allow both to create growth opportunities and generate more value for its shareholders, ABC News reports.

“We really are in two businesses, and there are a lot of disruptive trends in each,” stated Symantec CEO Michael A. Brown. “The best way to execute better and grow faster is to be separating into two companies.”

The information management company will feature storage management, archiving, and backup and recovery services, while the security company will provide data center security, user authentication, and data encryption.

Symantec is one of the most recent companies to announce a split within the last two weeks, with eBay announcing a split from PayPal and HP splitting into a PC and printing and software and services company.

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