Symantec Launches New Enterprise Mobile Security Offering

Symantec (NASDAQ:SYMC) announced a new enterprise mobile security offering – Symantec Mobile Security Assessment Suite – which helps enterprises evaluate their mobile security, defend against mobile-based security threats and securely deploy mobile devices and applications. ^[1] Symantec competes primarily with McAfee, owned by Intel (NASDAQ:INTC), HP (NYSE:HPQ), Trend Micro and Kaspersky in security software for businesses.

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With increasing use of smartphones and tablets in enterprises, enterprise software companies like SAP and Salesforce.com are launching mobile-based offerings to cash in on the shift to mobile. Symantec also hopes to position its mobile security offerings for enterprises. The Mobile Security Assessment Suite will offer tools and services to assess security risks associated with both mobile devices and mobile apps. It can be used by customers to refine their security strategies related to mobile device management, data loss prevention, encryption, authentication and mobile anti-virus software.

Symantec currently has a 30% share in the enterprise security software market. We expect it to increase marginally over the forecast period. You can check how a change in the market share impacts Trefis price estimate.

The security software for businesses accounts for more than 15% of our $21 Trefis price estimate for Symantec, which stands nearly 25% above its current market price.

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1. Symantec Mobile Security Assessment Suite Helps Enterprises Mitigate Risks Associated with Mobile Devices and Apps, Press Release [↩]