Symantec became the third tech giant in the last several weeks to propose splitting itself in two.
The software firm announced Thursday that it plans to separate into two independent, publicly traded companies. One will be focused on security; the other will be focused on information management.
[seealso slug="how-can-you-avoid-badusb"]
“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,” Michael A. Brown, Symantec president and CEO, said in a press release.
The move comes after Hewlett-Packard announced a plan to split in two last week. Hewlett-Packard will focus on computers and printers, while HP Enterprise will offer services and hardware to corporate customers.
Earlier this month, eBay also said it would spin off its PayPal business.
Symantec's stock price was up more than 2% in after-hours trading following the announcement.