Symantec’s New App Helps Companies Secure Mobile Devices

SYMC: Symantec Corp logo
SYMC
Symantec Corp

To help companies cope with the complexities of implementing the bring-your-own-device (BYOD) facility at the work place, Symantec (NASDAQ:SYMC) has unveiled its Mobile Management Suite. It is offering apps and security-related tools for devices under a single umbrella and offering a host of applications and tools needed for mobile device management it as a single resource. The company also announced two new programs: The App Center Ready Program, which allows third party application developers to use Symantec technologies in their products without changing its source code, and the Mobility Solution Specialization Program, which allows channel partners to offer Symantec’s enterprise mobility products to their customers. [1]

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Mobile Security To Drive Business

The bring-your-own-device (BYOD) revolution is driving demand for security on mobile devices. Symantec has a range of software including mobile anti-virus that helps prevent theft of data from lost or stolen mobile phones. This is an added feature over the standard security measures to prevent viruses and malware and is also a big growth opportunity as smartphones are expected to grow at 55% or so and reach a yearly shipment size of one billion phones by 2015. [2]

The biggest issue with the BYOD revolution is to support multiple devices with multiple operating systems and architectures while providing all necessary facilities. Symantec’s technology is built from scratch to solve some of these issues and plugs directly into management platforms which will allow various mobile devices to be added without server-side complications. The technology will provide users with relevant CRM and other business related information while keeping up with security and compliance constraints. The technology is based on know-how obtained from the acquisition of Nukona earlier this year and will be be driven by mobile virtualization. This offering puts Symantec in direct competition with VMware (NYSE:VMW), which is the pioneer in virtualization and has its own BYOD offerings.

We currently have a $27 Trefis Price Estimate for Symantec which is 50% above its current market price.

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Notes:
  1. Symantec’s New Answer To Enterprise Mobile Headaches, www.informationweek.com, October 9, 2012 []
  2. IDC Smartphone Growth Estimate, IDC []