Symantec on Monday said that it's acquired Appthority and Javelin Networks in an effort to bring key technology integrations to its Integrated Cyber Defense Platform. The cybersecurity firm said Appthority brings enhanced protections against mobile app vulnerabilities, while Javelin adds tools to thwart Active Directory-based attacks.
Both companies were folded into Symantec's endpoint security business, part of its broader Enterprise Security business. The enterprise segment missed revenue targets for Symantec's second quarter, reported last week, but CEO Gregory Clark said the company expects "to recapture momentum" in upcoming quarters with new products in the pipeline.
"The endpoint is a hotly-contested environment," Clark told Wall Street analysts during the company's earnings call Thursday. "If you look at some of the other, bigger players in effectiveness of endpoint, we are a lot, lot better."
Clark said Symantec edges rivals at protecting enterprises against malware in the endpoint by leveraging both traditional, signature-based protection and detection technologies, as well as artificial intelligence.
The acquisitions of Appthority and Javelin will no doubt support Symantec's pipeline strategy, with Javelin strengthening Symantec's endpoint controls offering and Appthority going toward new tools for mobile app analysis and mobile threat defense.
Looking at the rest of Symantec's quarter, the company reported a net loss of $8 million, or a penny per share, down from a net loss of $12 million, or two cents per share, last year. Non-GAAP earnings came to 42 cents per share on revenue of $1.18 billion.
Enterprise security sales dropped to $574 million, down 16.3 percent from $686 million the year prior. Consumer digital safety revenue came to $601 million, up 8.5 percent from last year.
For the coming quarter, Symantec expects non-GAAP earnings between 37 cents and 41 cents per share on adjusted sales of $1.16 billion to $1.19 billion. Analysts had been expecting non-GAAP earnings of 39 cents per share on revenue of $1.19 billion.
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The company said the latest update is focused on securing business applications in the cloud and protecting the cloud infrastructure they rely on.
Symantec says that some previous financial results will need to be revised.