Symantec considers splitting into two independent companies

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Symantec might be following eBay and HP's lead by considering splitting its company into two separate entities, according to a Bloomberg report.

Bloomberg's anonymous sources say Symantec is considering splitting its security software and data storage units into separate companies in order to become more easily acquired by larger technology companies, such as EMC and HP.

Trouble had been brewing at Symantec for the past several years.

Revenue failures

In March, Symantec fired Steve Bennett, its second CEO in two years. Bennett was replaced by interim-CEO Mike Brown. Brown was permanently appointed to the position in September.

During fiscal 2013, Symantec revenue decreased 4% to $2.9 billion. Analysts expect revenue to decrease even further during fiscal 2014.

The Bloomberg report suggests Symantec executives believe EMC and HP will acquire Symantec's independent security or storage business if one or the other isn't saddled down by additional lines-of-business.

• Via Bloomberg

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