Symantec is splitting its business into two independent companies, one to focus on security and the other on business information management.
The company's board of directors reached an unanimous decision to divide the company to "enable each business to maximise its potential".
Corporate splits seem to be in vogue at the moment. HP recently announced its division will be divided into two business units, and eBay is due to separate from PayPal in 2015.
Michael Brown, Symantec's chief executive, explained that the split will allow the two businesses to take on distinct and independent strategies.
"Separating Symantec into two independent publicly traded companies will provide each business with the flexibility and focus to drive growth and enhance shareholder value," he said.
The security business will continue with consumer and enterprise security products and services provided by Symantec and sub-brand Norton.
This business will also focus on delivering a unified big data platform, which will integrate threat information from Symantec products and devices running Norton software to introduce more intelligence and telemetry into threat analysis.
The information management side, meanwhile, which brought in $2.5bn of revenue for Symantec in its 2014 fiscal year, will focus on providing access to its services in a form that suits customers, whether via on-premise software or cloud-based services.
This division will also focus on integrating information management services with cloud providers so that customers can access data across public and private clouds.
Brown will continue to run the security side of Symantec, while John Gannon, president and chief operating officer at Quantum, will become general manager of the information management business.
Marcin Kleczynski, chief executive at Symantec rival Malwarebytes, was quick to take the opportunity to have a dig at established security companies.
"Imagination, evolution and being nimble are now absolutely vital to getting the cutting edge in this market," he said.
"This is why smaller specialised companies are flourishing in malware detection and response.
"By freeing itself from the distractions created by trying to capture a variety of markets, Symantec can be more single-minded in its response to the ever advancing threat landscape."
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