Symantec has announced plans to split itself into two separate companies.
One business will focus on security and the other on storage.
This decision follows an extensive business review of the company’s strategy and operational structure.
Michael A. Brown, president and CEO of Symantec, said: “As the security and storage industries continue to change at an accelerating pace, Symantec’s security and IM businesses each face unique market opportunities and challenges.
“It has become clear that winning in both security and information management requires distinct strategies, focused investments and go-to market innovation.”
Brown added: “Taking this decisive step will enable each business to maximize its potential. Both businesses will have substantial operational and financial scale to thrive.”
Symantec recently announced it is tweaking its Norton product portfolio to focus on a single service.
This news comes after HP also split itself into two separate companies earlier this week. HP will continue to focus on printing and computers, while HP Enterprise will focus on hardware and services.