Monday, June 13, 2016 12:55:37 PM
BTIG affirms Symantec (NASDAQ: SYMC) with a Neutral rating after the company announced entering an agreement to acquire Blue Coat for about $4.65 billion.
Analyst Joel Fishbein commented Monday: The deal brings immediate benefits for SYMC: 1) increased enterprise security exposure, as pro forma enterprise security revenues increase to 62% of the base (vs. ~54% as of F16); 2) better focus on highergrowth security segments (Gartner estimates that 85% of large enterprises will be using cloud access security brokers, vs. <5% today); 3) significant accretion, as FY18 EPS is expected to jump to $1.70-$1.80 vs. $1.37 prior (+28%); and 4) a new CEO in Greg Clark with a deep software background and proven track record of turning around and growing an enterprise-focused security company.
At the surface, the transformative deal looks like a good one. However, there are obvious risks around a transaction of this size, notably the product and sales integration required, and if this can truly position SYMC to achieve its goal of being the leading enterprise cyber security company
"Then there was a woman, a lion of a woman."
VPR Brands LP Reports Record Annual Financial Performance for Fiscal Year 2023 • VPRB • Apr 19, 2024 11:24 AM
Coinllectibles' Subsidiary, Grand Town Development Limited, Acquires Rare Song Dynasty Ceramics Worth Over USD28million • COSG • Apr 18, 2024 8:03 AM
ILUS Provides Form 10-K Filing Update • ILUS • Apr 17, 2024 9:54 AM
Glucotrack Announces Expansion of Its Continuous Glucose Monitoring Technology to Epidural Glucose Monitoring • GCTK • Apr 17, 2024 8:00 AM
Maybacks Global Entertainment To Fire Up 24 New Stations in Louisiana • AHRO • Apr 16, 2024 1:30 PM
Cannabix Technologies Begins Certification of Contactless Alcohol Breathalyzer, Re-Brands product series to Breath Logix • BLOZF • Apr 16, 2024 8:52 AM