Changing Of The Guard
Symantec fulfilled its promise to put the proceeds from the Veritas split to good use, announcing late Sunday night that it planned to make a blockbuster $4.65 billion acquisition deal for cloud and web security company Blue Coat Systems. As part of the deal, Blue Coat CEO Greg Clark would assume the role of CEO at Symantec, filling a vacancy left by the announcement in April that current CEO Mike Brown would be stepping down.
Clark will assume the CEO role when the acquisition closes, which is expected to happen in the third calendar quarter of 2016. On an investor call Monday morning about the acquisition, Clark answered questions about the benefits of the deal, plans for technology integration, and what the role for partners will be with the combined security vendor. Take a look at what he had to say.