Symantec Corp. announced on January 12 that it is taking over 65 engineers and data scientists from Boeing’s cybersecurity unit, Narus. Boeing will retain ownership of Narus’ licenses and intellectual property, which will be licensed by Symantec. Terms of the deal were not disclosed.
We have a price estimate of $24.59 for Symantec, which is marginally lower than its current market price.
Narus to Boost Symantec’s Big Data Capabilities
Narus, which was acquired by Boeing in 2010, specializes in internet-filtering software for intelligence agencies. Symantec has indicated that it hopes to utilize Narus for big data analytics to prevent, detect and remediate cyberattacks. Symantec’s massive global threat intelligence network collects information from millions of Norton and Symantec endpoints and 42 million attack sensors. It hopes to accelerate meaningful generation of information from this data by utilizing the expertise of the acquired firm in machine learning, security, big data analytics and networking.
Playing Catch-up in the Fast Moving World of Information Security
Symantec derives 62% of its total revenues from the information security business, comprising of 43% from consumer information security and 19% from enterprise information security. The company’s revenues in the information security business have witnessed a decline in recent years despite the leadership position of its Norton Antivirus Suite. This is because the one-time thought leader in information security has failed to keep up with the fast-evolving nature of threats to enterprise as well as consumer information systems. (Read: Symantec’s Revival: The Security Business Holds the Key).
This article has been extracted http://www.forbes.com, please click on this link to read the article in full http://www.forbes.com/sites/greatspeculations/2015/01/14/symantec-acquires-boeings-cybersecurity-unit-in-a-bid-to-boost-big-data-capabilities/
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