Symantec vows huge push into SaaS market

At its Financial Analyst Day event in San Francisco Thursday, Symantec's top executives vowed a major push into software-as-a service and also offered a glimpse at upcoming back-up products.

Enrique Salem, president and CEO, kicked off the event with the investment industry's analysts by saying Symantec intends to expand into software-as-a-service, an area in which it already has experience (the company now backs up 32 petabytes of customer data in the cloud with continuing growth at 5 petabytes each quarter). Salem predicted SaaS, in which Symantec will have new offerings, could comprise "15% of total revenues in the next five years."

Symantec's detailed announcements pertaining to its SaaS strategy may not come until later this year, but executives told industry analysts from the financial world that Symantec is developing a "cloud storage platform" it will offer based on what it has learned hosting massive amounts of data.

Symantec is pursuing some of these cloud-based storage efforts through its joint venture with Huawei in China, mainly to be able to deliver cloud-based storage systems to firms based in that country. Symantec also can be expected to detail various types of host- and hybrid cloud-based SaaS offerings in the area of messaging security from this fall into next year.

Adrian Chamberlain, senior vice president in Symantec's Software-as-a-Service Group, which absorbed the products, services and development team associated with the $700 million MessageLabs acquisition last year, said the objectives over the next fiscal year would be to ‘"develop new hosted and hybrid security solutions."

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