Symantec Next In Line For A Big Corporate Split? Report Says Data Storage And Security Better Off Apart
There seems to be a trend that is growing among major tech companies with breaking up into smaller pieces. Ebay and Hewlett-Packard announced that they were breaking up into smaller pieces. Now it seems Symantec Corp could be adapting that trend in the future, according to unnamed sources that spoke to Bloomberg who are knowledgeable about the matter.
It seems that the software company is looking to split up its business into two separate companies. One side would focus on selling its Norton security programs while the other deals with data storage. The sources said that the plan is in advanced talks and that an announcement could be made in a few weeks.
Image Source: Flick (Kazuhisa Otsubu)
According to one source, this is not the first time Symantec has explored the idea of splitting into separate companies.
If the information turns out to be true, then Symantec will be following in the footsteps of other companies. In September, Ebay announced that its board of directors had approved a plan to split the auction website from PayPal in order to form two independent companies. Then Hewlett-Packard, just a couple of days ago, announced a similar decision that would split its PC and printer business into one entity while its hardware and service businesses would be another.