Symantec Steps Up Its Enterprise Game with New Authentication and Security Offering

Symantec (NASDAQ:SYMC) has announced two new products which could help it boost its market share and increase revenue from the enterprise security and business authentication services businesses. ^[1] It has launched the new VIP Intelligent Authentication platform allows enterprises to ensure secure access to web based applications and services, improving security for customer and employee log-in systems. It also announced a new pair of DeepSight reputation feeds used by the new platform which would improve web security by blocking users from accessing known malicious sites. Symantec competes primarily with Intel (NASDAQ:INTC) via McAfee and IBM (NYSE:IBM) in enterprise security.

Enterprise security software and Authentication services account for nearly 15% of the $20 Trefis price estimate for Symantec which is still largely driven by its storage software and Norton antivirus businesses. Our Trefis estimate for Symantec stands around 15% above the current market price.

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Symantec Pushing Forward with New Security Initiatives for Enterprises

Symantec is focusing on enterprises for its next stage of revenue growth. While it continues to maintain a majority market share in the consumer computer security market with Norton, it has been launching multiple new offerings aimed at enterprises.

It recently launched an upgraded set of storage software products which allow customers to create their own virtual private clouds. It also announced a new cloud security platform and a DLP (data loss prevention) solution for tablets, focused at enterprises.

With the Intelligent Authentication platform and upgraded DeepSight feeds, it now offers a complete package for enterprises looking to secure their private networks and ensure secure access to public internet applications and services.

You can tweak this chart to see how an increase in market share / revenues in the enterprise security or authentication services business could affect Symantec’s Trefis price estimate.

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1. Symantec unveils authentication and web security platforms, V3 [↩]