The Traderszone Network

Published in TZ Latest News 9 October, 2014 by The TZ Newswire Staff

Symantec to split into security and storage software companies

The move by Symantec, which has fired two CEOs since 2012 as its stock and financial performance lagged many other software makers, follows a trend of companies splitting in an effort to boost their share prices. The deal also reverses its long troubled $13.5 billion acquisition a decade ago of storage software maker Veritas. Slowing PC sales have hurt its security sales, while sluggish demand for its storage and data management software has diminished the value of Veritas, which was seen as a “cash cow” when it was purchased.

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