Symantec’s acquisition of LifeLock is a big boost to the company’s consumer business, but Norton Executive Vice President Fran Rosch said partners should expect to see some benefits to the enterprise security portfolio, as well.
Symantec announced late Sunday that it would acquire LifeLock for $2.3 billion, with the deal expected to close in the first quarter of 2017. LifeLock offers a collection of identity protection and remediation services for consumers.
In an interview with CRN, Rosch said the LifeLock acquisition moves Symantec into more value-added services, above and beyond its traditional Norton antivirus portfolio. Rosch said Symantec was drawn to LifeLock because of its ID analytics capabilities, high customer rankings and strong partner channel.
“In the past, we have seen a lot of our customers most worried about PC-based malware and viruses, which they now expect to be solved. Now, their hottest topics are around identity theft, the privacy of their information and where it is,” Rosch said.
“This market is such a fast-growing market. In the Norton space, there is a lot of competition and identity protection is a faster growing market. Combining [these two companies], the consumer business will be growing and maintaining strong profitability. We’re really excited about the positive growth this will bring for Norton and for our partners,” he said.
Rosch said the benefits of the deal, while primarily focused on the company’s consumer business, will also bleed into the enterprise side of the house. He said LifeLock’s ID analytics business could appeal to enterprise customers, as well as its fraud mitigation service. He said the company’s big data analytics capabilities could ultimately connect with Symantec’s threat intelligence database.
“That’s something we want to nurture, but the consumer side will be the focus,” Rosch said.
For partners, Rosch said he sees “natural” opportunity for service provider and telco partners, who are looking for additional services prospects. He said the LifeLock acquisition also opens a new channel of partners for Symantec for employee benefit program brokers, of which there are dozens.
Jason Eberhardt, vice president of strategic alliances at Chicago-based Conventus, said he is “very excited” to see Symantec continue to expand its security offerings with “an extremely strong product” from LifeLock. He said that is important because his business “will be able to offer more protection to our customers” with the combination of Symantec and LifeLock offerings.
“Cybersecurity is ever-changing and constantly evolving. These are the types of moves that keep us in the forefront. This will be great for the partners as they will be able to now offer more solutions to our joint clients,” Eberhardt said.