Symantec Can't Break Spending Habit
The Altiris buy makes some strategic sense, since Symantec's rival McAfee (MFE) offers similar capabilities in its products.
But the acquisition doesn't answer the larger question of whether Symantec can afford to do this deal now.
The Cupertino, Calif.-based security and storage maker is struggling to meet expectations when it comes to earnings, and it has acknowledged that it faces execution issues in its different business divisions.
It's also trying hard to completely integrate its $13.5 billion purchase of storage company Veritas from 2005."I don't believe Symantec realized the benefits of the Veritas acquisition from an operating standpoint," says Cuggino. "As an investor, I am concerned about the stock performance, and so far the results aren't there." Symantec stock has dropped nearly 30% since the Veritas acquisition was announced and the company continues to suffer because of integration glitches. The weak performance of its data center management business, which largely comprises Veritas products, led Symantec to
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