Symantec aiming for USD 10 billion in sales by 2010

Symantec aiming for USD 10 billion in sales by 2010

Security application maker Symantec aims to double its sales to around USD 10 billion by the end of the current decade. The company added that they expect 10% of these revenues to come from services.

Company’s chief executive John Thompson said in a statement during the ETRE technology conference in Barcelona: “We’ll still maintain our position of being the fourth biggest independent software company in the world, or if we’re lucky move up a step or two.”

He further said that they are looking at medium-sized acquisitions to expand into other markets to increase their presence in the various software and services market. Symantec had acquired storage software maker Veritas for $10.3 billion last year.

Thompson added on this: “Buying technologies is one thing but buying real businesses is another because you are forced to pay attention to them. If they are $75-$100 million in sales that’s real money, that gives us leverage.”

He also talked about the growing threat from the software giant Microsoft which is increasingly becoming a bigger player in the security software market. Thompson said: “Microsoft’s a very, very powerful company with incredible resources. I do think about Microsoft and what they could do to our customers and therefore our company.”