Cybersecurity expert Symantec has completed the acquisition of Luminate Security on Tuesday. After observing the deal, our analysts at Corporate Finance have wanted to investigate more about this multinational and see what kind of companies or sectors it is investing in.
Strong activity in cybersecurity and buyouts
Symantec was founded in 1982 and is headquartered in Mountain View, California. It offers solutions for security, storage and systems administration that help consumers to protect and manage your information.
The company operates through three segments: consumer security, enterprise security and information management. It serves individuals, households, SMEs, large enterprises, and government and public sector customers.
Five years after its founding, Symantec made its first acquisition, Living Videotext. Since then, the US company has continued a growing line in buying a company, having so far confirmed 72 acquisitions.
We will look at its last five acquisitions to see what kind of companies or sectors Symantec is active in:
1. Luminate Security
Luminate Security is a company that allows security teams to create a zero trust application access architecture without traditional VPN devices. Its Secure Access Cloud technology securely connects any user from any device, anywhere in the world, to corporate, local and cloud applications, while all other corporate resources are hidden without granting access to the entire network.
Last Tuesday, 12 February, we learned of the purchase of the Californian company by Symantec. The amounts involved in the deal have not been confirmed. Luminate's Secure Access Cloud technology further extends the power of Symantec's integrated cyber defence platform to users.
"In this fast-moving world, reliance on external infrastructure must be carefully considered, as companies may outsource infrastructure, but they must also be responsible for the data and the users. With the addition of Luminate we are at the forefront of security in the cloud era«, dijo Greg Clark, CEO de Symantec.
2. Appthority
Founded in 2011 in San Francisco, Appthority is a pioneer in the enterprise mobile security and the leader in the mobile threat defence category. Appthority's comprehensive mobile threat protection (MTP) solution helps customers keep their data private and secure from mobile devices, apps and network threats.
Symantec executed the purchase of Appthority on 5 November 2018, in a transaction where the financial terms are unknown.
The acquisition of Appthority demonstrates the continued commitment to Symantec to secure modern endpoints and operating systems (e.g. iOS or Android), as it brings innovation to your portfolio in this vital security need.
3. Javelin Networks
Javelin Networks is a privately held company offering advanced software technology. to defend companies against Active Directory (AD)-based attacks. Microsoft's Active Directory services have become an increasingly popular target for attackers. Attackers use AD reconnaissance to discover users, servers and computers in an enterprise network and then move laterally across the network using this information to carry out multi-stage attacks.
This acquisition occurred on the same day as that of Appthority, so we can confirm that this was a strategic double buying for Symantec. The purchase amounts were also not confirmed in this transaction.
If you want to find out more about the cybersecurity sector, you can find information from the latest company sales. Some of these operations and many more are discussed in depth.
4. SurfEasy
Founded in 2011, SurfEasy is a virtual private network (VPN) provider which offers easy-to-use solutions for online privacy and security on smartphones, tablets and computers.
Symantec acquired SurfEasy from its parent company, Opera Software, on 6 November 2017. Following the transaction, SurfEasy became part of Symantec's consumer business unit, which included. the Norton and LifeLock brands.
«La incorporación de SurfEasy beneficiará a nuestros clientes a medida que continuemos fortaleciendo nuestra solución de Privacidad Norton Wifi para que los consumidores puedan usar el Wifi público without fear of exposing your information to cybercriminals«, dijo Greg Clark.
5. Outlier Security
Outlier Security is a company based in Nevada, USA, that specialises in providing detection and remediation of endpoint threats in enterprise networks.
It was founded in 2014 and its impact on the industry was so noticeable, that within three years Symantec had executed the purchase of the company in order to integrate it into its group.. The amounts of the transaction were not published.