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05/06/2024 12:16:52 am

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Symantec Might be Next to Split into Two Companies

Symantec

When eBay announced they were splitting PayPal up into two, most saw it as a good way to buy stocks and see how both companies were doing on a financial level. When HP announced they were splitting the consumer and business side, it looked like a good move to keep the enterprise rolling and seek new opportunities on the consumer side.

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Symantec is the next company looking to split into two companies, one focused on data programs and the other on cyber security. This comes after a weak few years for Symantec, following the $10.2 billion acquisition of Veritas Software in 2005, which amounted to little.

This comes just after ex-CEO Steve Bennett was fired from the company, after announcing big plans to change Symantec. The change might have been something different, but now it seems Symantec is going with the current trend and splitting into two.

Is this the start of a new trend? Hard to say, but it appears that any failing technology company too big for its own good is looking at the option. This might mean companies like Oracle, Cisco Systems, IBM and even Microsoft might look towards this option.

Even companies outside the software industry like BlackBerry might see this as a great opportunity, splitting between their hardware business and BBM. It gives both companies a chance to thrive, and if one fails, the other can continue regardless, instead of sinking with the dead weight.

Companies in high profits are looking at the exact opposite. Apple, Facebook, Google and even smaller brands like Twitter and Dropbox are interested in acquiring as much engineer talent as possible, alongside acquisitions of companies large and small.

Symantec's stock is down 1.36% at $23.19 on the NYSE.

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