The network security world is small, yet vital – and 2019 has shaken it up with Broadcom’s purchase of Symantec (ranked 5th globally). Purchased for $10.7 billion, Symantec’s stock rose by 12% following the announcement of the purchase, a much needed yet modest boost for the declining company in an ascending vertical.
Broadcom promised vague changes, with “$1 billion in operating expense reduction, affecting sales, marketing, and G&A” and a “Focus on selling to the largest Global 2000 customers, leveraging an enterprise licensing model.”
So, who is Broadcom and what impact will this purchase have on the cyber-security industry? Broadcom is largely a Semiconductor company with a long and prosperous history producing fiber optic transmitters and receivers, optical mouse sensors, traveling wave amplifiers, Ethernet products and more recently, purchasing companies like CyOptics Inc., PLX Technology Inc., Emulex Corp. and CA Technologies, Inc.
They plan to reduce expenses – thus affecting every department, and they plan to sell more – to larger companies. Not so specific. Their failed purchase of chipmaker, Qualcomm
, in 2018, might have triggered this foray into the world of network security, not necessarily their creation of new, ground-breaking products, research or passion for the field – but we are just guessing. Maybe cyber security and cloud computing have been a passion all along…
Dipping a toe in the cyber-security pool doesn’t necessarily make you Michael Phelps. While Symantec was a trusted name with quality products, their slow decline triggered the Broadcom purchase – and the sharks are circling.
Still not sure who Broadcom is and how the changes to Symantec will affect you?
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Sangfor Technologies develops cutting-edge security, cloud computing and network optimization products help organizations to keep their networks safe and secure. Founded by three passionate technology innovators in 2000, and investing at least 20% of its yearly revenue in R&D, Sangfor is improving current products and developing new solutions in their four R&D centres in the USA & China. So far, Sangfor has applied for more than 1000+ patents with more patent applications scheduled for 2020.
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Founded in 2000 and a publicly traded company as of 2018 (SANGFOR STOCK CODE: 300454 (CH)) Sangfor Technologies is the global leading vendor of IT infrastructure solutions specializing in Cloud Computing and Network Security.