A company is hit by ransomware every 40 seconds somewhere in the world, thanks to the rise of ransomware-as-a-service model that is available ‘on demand’ to criminal gangs who increasingly target businesses. To date, 2017 has seen this trend play out in full force, with high-profile attacks such as Petya and WannaCry.
A little more than two weeks ago, the massive “WannaCry” ransomware virus hit over 150 countries infecting about 200,000 to 300,000 computer devices and systems globally, as the worst nightmare for cyber security experts unfolded rendering them helpless.
On March 2, 2017 Symantec announced the launch of Symantec Ventures – its latest effort to help startups by contributing capital, reducing expenses and accelerating time to market. Per the company, Symantec Ventures is the next step post its partnership with Frost Data Capital Partner in 2015. Initially while the company aimed to foster up to 10 Security and IoT Analytics startups per year, with Symantec Ventures it plans to further its investment in areas like Machine Learning and Security Analytics.
Managing enterprise security in today’s digital world is becoming increasingly complex with constantly evolving threats.
This gives Chief Information Officers (CIOs) and Chief Information Security Officers (CISOs) a compelling reason to invest in a security partner who is committed to the cause of Enterprise Security and, more importantly, has the resources to invest in Threat R&D and Threat Intelligence.
On 12 June, 2016 Symantec announced its agreement to acquire Blue Coat for USD 4.65 billion.
As a result of this acquisition, the company will now have 385,000 customers, a vast repository of data sources and over 3,000 researchers and engineers worldwide. Post this acquisition, Symantec will have USD 4.4 billion in combined revenue (on pro-forma, non-GAAP basis) in FY16. By the end of FY18, Symantec expects to realise USD 550 million in run-rate cost savings. In addition, the combined entity will have access to vast Security and Threat Intelligence data sources including Telemetry gathered from 175 million protected endpoints; more than 2 billion emails scanned per day; 1.2 billion web requests monitored per day across 55 languages; 12,000 Cloud applications monitored and controlled.
Indian security leaders welcome the move, expected to be finalized later this year, saying it will definitely change the way technology is consumed by organizations, as they expect new innovations to help them tackle future threats more effectively.