As cyber threat is expanding its reach, Symantec, an anti-virus software service provider is also keeping the same pace. With technological advancement and internet access, people now mostly rely on computing. The use of internet has also increased with the various other devices enjoying internet access like smartphones and tablets. They are all in need of end point security which is what Blue Coat security system ensures with. After selling out VERITAS, both the enterprise and customer security system became feeble. To cope up with such a situation, Symantec Corporation decided to purchase Blue coat out of $4.65 billion. Eventually Blue Coat was acquired by the company in June 2016.
So the question prevails what made the company head on with the deal. Strategically the company is benefitted in 5 ways. Here is a look out at them:
- To meet the evolving threats, Symantec will be benefited by Blue Coat: The Company has been making sale of antivirus products for PC, since 2 years but the market has frozen partly with the growth of cyber-crimes which are becoming more and more malicious. In 2014, then executive of Symantec declared that the antiviruses are dead. He also said that due to the growth of certain dangers like zero-day exploits, both businesses and customers are getting highly affected and antivirus are failing to beat them out. Matters got worsen with the invention of cloud and mobile devices. In the present scenario, cyber-attacks are targeting anything enjoying internet connection. Rather these days even some business run completely online with the growth of e-commerce and such cybercrime like hacking can bring down the business completely. With the aim of offering customers a reliable security service that ensures them with optimum protection against cybercrime, Symantec decide to acquire Blue coat security platform.
- More products ensure detection of more threats: Symantec successfully come up as a perfect match for the security platform. The company has focused typically on endpoint security while Security platform, Blue coat looks after networking protection which also includes encrypted traffic administration. So providing the company with the ownership of Blue coat will help them to offer the clients with best threat detection and security. Hence combination of resources will help them in tracking how and where malware is threatening the clients.
- Increasing R&D: As hackers are coming up with innovative ways of imposing threat to the customers, the company is in need of more engineers who can help it in dealing with such issues. Hence Blue Coat was acquired by Symantec to meet its employee requirement. In fact the company gained 3000 staffs from this acquisition. Now critical problems can be solved easily by Symantec Corporation.
- Boosting up sales: Acquisition of Blue Coat helped in boosting the limping sales of the company. Strategically to cope with this decline in the sales, the company decided to acquire Blue coat to sell the product to the customers in need of a sound anti-virus product.
- Enjoying association of new CEO: As per the deal, now Blue Coat CEO Greg Clark has taken over the same position at Symantec. The company has undergone restructuring which is looked upon as a good sign for future profitability.
Keeping in concern all such benefits, the company made leap for acquiring Blue Coat and now promises its clients to offer with the best networking security service.