Symantec

Type: Public
On the web: http://www.symantec.com
Employees: 18,600
Employee growth: 6.9%

Symantec never has a problem with insecurity. The company provides security, storage, and systems management software for businesses and consumers. Its applications handle such functions as virus protection, PC maintenance, data backup and recovery, intrusion detection, data loss prevention, spam control, content filtering, and remote server management. Symantec sells its products through a direct sales force, as well as through distributors, resellers, computer manufacturers, and systems integrators. The company also provides managed services and training. Customers in the Americas account for more than half of sales.

Key numbers for fiscal year ending March, 2011:
Sales: $6,190.0M
One year growth: 3.4%
Net income: $597.0M
Income growth: (16.4%)

Officers:
Chairman: John W. Thompson
President, CEO, and Director: Enrique T. Salem
EVP and CFO: James A. Beer

Competitors:
McAfee
Microsoft
Trend Micro

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(Symantec Corporation, Cupertino, CA, www.symantec.com) A software company founded in 1982 by Dr. Gary Hendrix. It was acquired by Gordon Eubanks in 1984 and released its Q&A file manager the following year. In 1990, it merged with Peter Norton Computing, Inc., developer of the well-known Norton Utilities and Norton Desktop programs, and became a specialist in antivirus and consumer security.

For several years following, Symantec acquired more than a dozen other software companies, including Central Point Software, maker of PC Tools, and Zortech, developer of C++ compilers. In December 2004, Symantec and software giant VERITAS Software Corporation, Mountain View, CA, announced a merger with the combined company to operate under the Symantec name.

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Incorporated: 1982
NAIC: 51121 Software Publishers
SIC: 7372 Prepackaged Software

Symantec Corporation is one of the largest software companies in the world providing content and network security software to individual consumers and businesses. Its products are used in virus protection, intrusion detection, and remote management applications. The company also provides security assessment, consulting, and security management services. During 2005, Symantec completed its $11 billion acquisition of Veritas Software Corporation. Symantec operates facilities in 40 countries across the globe--nearly half of fiscal 2006 revenues was generated outside of the United States.

Origins

Symantec was founded in 1982 by 34-year-old Dr. Gary Hendrix, a prominent expert in natural language processing and artificial intelligence. He brought together a group of Stanford University researchers in the field of natural language processing to form the company, which had various ideas for innovative software, including a database program. The enterprise's initial funding was a National Science Foundation grant. When that grant ran out, Hendrix obtained financing from venture capital firms that were interested in investing in the field of artificial intelligence, even though the company in 1983 was still far from creating a product.

In 1984 Symantec was acquired by another, even smaller computer software start-up company, C&E Software, founded by Dennis Coleman and Gordon E. Eubanks, Jr., and headed by Eubanks. The merged company retained the name Symantec, and 38-year-old Eubanks became its chief executive officer. Eubanks, formerly a nuclear submarine commander, had studied computer engineering at the Naval Post-Graduate School in Monterey, California. For his master's thesis, Eubanks had developed an innovative microcomputer tool for the CPM operating system called EBASIC. At the time of the merger, C&E Software also was working on a database program, but the different fields of expertise of the two companies complemented each other. Whereas Symantec's founders were strong in high-technology innovation, C&E had more experience writing tight computer code and working out program bugs. The merger received significant support from venture capitalist John Doerr, who went on to become a member of the board of directors. Doerr was the first to see the potential in the merger and helped bring it about through his urging and financial backing.

Symantec shipped its first major product, Q&A for the IBM-compatible PC, in 1985. Q&A was a flat-file database program and was one of the few database management software packages for personal computers that used natural language query, based on an internal vocabulary of nearly 600 words. In order to obtain lists or statistics based on a data file, the user types in queries as ordinary English sentences instead of as arcane commands (hence the name Q&A for the process of question and answer). The use of natural language query in this product was a significant step in making computers more user-friendly. Symantec's sales for 1985 totaled $1.4 million.

Expansion Through Product Offerings and Acquisitions: 1985-89

Despite the modest success of Q&A, it soon became clear that the product would not be able to compete with the major personal computer database program on the market, Ashton-Tate's dBase, or Lotus Development Corp.'s spreadsheet program Lotus 1-2-3. Although innovative, Q&A managed to bring in only $8 million in sales in its first two years combined, which was far short of its expectations. Eubanks realized that the market had changed in such a way that Symantec could no longer be a one-product company relying solely on Q&A like other, established software companies, such as Ashton-Tate, Lotus Development, or WordPerfect Corp. Thus Symantec took the strategic move of broadening its product base, particularly in specialty niche software categories.

To take advantage of such software developments of other, smaller firms, Symantec formed its Turner Hall Publishing division to publish third-party software. In October 1985, Turner Hall introduced Note-It, a notation utility for Lotus 1-2-3. Of more significance, Eubanks decided that the company would expand its product offerings through acquisitions of other software companies. This involved not only obtaining a company's products but also retaining the company's programmers (in order to continue to develop new products in the given category) and its marketing staff (who had established client relationships).

At the same time, Eubanks decided to structure Symantec's organization into complete teams for each product. This involved establishing product groups consisting of all the functions of product development, quality assurance, marketing, documentation, and technical support. Subsequently, when other companies were acquired by Symantec, product autonomy was maintained. This way, employees of acquired companies who were accustomed to working in small companies were able to maintain a sense of the small company culture.

Symantec began its acquisition campaign in 1987. In January that year Symantec acquired Breakthrough Software, located in Novato, California. Breakthrough had developed Time Line, the leading project management program for the IBM-compatible PC. In July Symantec acquired Living Videotext, based in nearby Mountain View, California. Living Videotext was the developer of ThinkTank, a presentation graphics program for the Macintosh, and Grandview, an information management program for the PC. In September Symantec acquired Think Technologies of Bedford, Massachusetts. Think had developed THINK C and THINK Pascal, both programming language compilers for the Macintosh, and InBox, an electronic-mail system.

As a result of these acquisitions Symantec's sales doubled between 1987 and 1988, to reach $19.6 million. The number of employees likewise nearly doubled, to reach 180 in 1988, with 90 percent of the acquired companies' employees staying on. Direct sales representatives increased from 20 to 45. The portion of Symantec's sales to large corporations rose from 18 percent to about 35 percent in 1988. Symantec's existing products also benefited from the acquisitions through the ability to provide complementary software package combinations.

For a relatively small company, managing such acquisitions was not easy. Sales doubled, but Symantec suffered net losses due to the costs of the acquisitions. Although product management was kept separate, the acquired companies' finance, administration, personnel, and public relations functions all had to be merged. The restructuring was complicated by the loss of top managers. The founders of acquired companies Videotext and Think Technologies decided to leave Symantec. Of more significance, in 1988 Chief Financial Officer Michael Perez and Vice-President of Business Development Spencer Leyton both left the company. Eubanks proceeded to reorganize the company to reduce the number of top executives and give more authority to middle managers. These management and financial difficulties all contributed to the postponement of an initial public offering (IPO), which Symantec had originally planned for May 1988.

After six years of losses, Symantec finally became profitable in 1988, or fiscal year 1989 (ending March 31, 1989). On June 23, 1989, the company made its IPO. A stock split went into effect in September 1991. By November of that year the stock price was five times higher than it was when it went public, and it was selling at 64 times earnings. The high stock price supported Symantec's acquisitions, which were usually bought in exchange for Symantec stock.

Meanwhile, Q&A continued to be successful in its own smaller market of flat-file database programs. Flat-file databases, in contrast to relational database programs, require all the data to be in a single file. In fiscal 1989, Q&A accounted for one-third of Symantec's $50 million in revenues. In 1991 Q&A was the leader in the $60 million flat-file database market.

Acquisitions Continue in the Late 20th Century

Symantec made its biggest acquisition at the time in August 1990 when it purchased the highly successful Peter Norton Computing Inc. of Santa Monica, California. Norton Computing became a pioneer in DOS-based utilities software with its introduction of The Norton Utilities in 1982. This software package historically has been the market leader in PC utilities software. Utilities are programs that perform functions such as backing up and compressing files, checking for viruses, and restoring lost data. The acquisition gave Symantec a 34 percent share of the $410 million utilities market.

The purchase also helped Symantec, whose utility products were more heavily weighted toward the Macintosh platform, expand into the PC utilities market. Peter Norton, the founder and owner of the acquired company, was given one-third of Symantec's stock, worth about $60 million, and a seat on Symantec's board of directors. The acquired company became a division of Symantec and was renamed Peter Norton Computing Group. Most of Norton Computing's 115 employees were retained. The merger also helped Norton Computing regain the market share it was losing to competitors, especially Central Point Software. Norton Computing's revenues tripled between June 1990 and September 1991, and by November it appeared to have regained the market lead over Central Point. Norton Computing's merger with Symantec has since been cited as one of the most successful acquisitions in the software industry.

Symantec made three more acquisitions in 1991. In June it acquired Leonard Development Group, which had developed GreatWorks, an integrated applications program for the Macintosh. In August it acquired Zortech Inc., a developer of cross-platform C++ programming language compilers. Zortech had been the first company to introduce a C++ compiler for microcomputers. Symantec's acquisition of Zortech, with 32 employees for $10 million in stock, thus brought the company into the business of object-oriented programming and multiple platforms. Also in 1991 Symantec acquired Dynamic Microprocessor Associated Inc., which had developed pcANYWHERE, the leading remote control communications software product for personal computers.

Even during the recession of the early 1990s, which was especially severe in California, Symantec continued to grow. Revenues increased from $75 million in fiscal 1990 to more than $116 in fiscal 1991, and the number of its employees increased by 28 percent between June 1990 and June 1991.

Symantec also expanded in Europe. The company opened a European manufacturing facility outside Dublin, Ireland, in October 1991. The facility subsequently began supporting Symantec's customers outside North America. In May 1991, Symantec began selling Norton Utilities and certain other software packages in the Soviet Union through three official distributors. To combat rampant software piracy in Russia, Symantec also offered after-sale services and technical support to registered users. Taking a more active role in international distribution, Symantec acquired its exclusive distributor in the United Kingdom, Symantec U.K., in March 1992. By 1994 Symantec had a network of more than 150 partner companies worldwide and had produced more than 120 translated versions of various software products into different foreign languages.

Symantec moved toward becoming a significant provider of programming tools for corporate software developers when it acquired two more companies in June 1992 for a total of about $2.1 million. The acquired companies were Whitewater Group of Evanston, Illinois, a developer of object-oriented programming tools and a provider of a collection of graphics libraries, and MultiScope Inc. of Mountain View, California, a developer of innovative debugging programs for the DOS, Windows, and OS/2 platforms. In 1992 only 5 percent of Symantec's sales were in programming languages software, but Symantec hoped to expand its market by offering programming tools that could be used for multiple computer platforms.

In late 1992 Symantec officers were sued by rival software company Borland International Inc. over Symantec's hiring of former Borland vice-president Eugene Wang. Borland charged that Wang had passed on trade secrets via electronic mail to Symantec CEO Eubanks before leaving Borland. This was the first legal case in which a high-level executive had been implicated based on electronic-mail messages as evidence, and thus the case attracted a great deal of attention even outside the software industry. Eubanks and Wang were cleared of all charges in 1996.

The next major product category that Symantec pursued was business project management software. In the early 1990s this was seen as one of the fastest-growing software areas. Symantec introduced Guide Line, an easy-to-use project scheduling software, and provided improved versions of Time Line, a leading project management software package.

To expand in other areas of business software, Symantec made its largest acquisition since Norton Computing, purchasing Contact Software International Inc. for $47 million in exchange for 2.7 million in common shares. Contact Software, which had sales of about $20 million, was the maker of Act!, the leading contact management database program for executives and sales staffs.

The acquisition also boosted Symantec's sales, which had been flat for the first nine months of fiscal 1993. In addition, Symantec finally centralized the separate marketing activities of each of its four product groups at its Cupertino, California, headquarters in 1993 in order to be more efficient. Product development, though, remained autonomous.

Despite forays into different software categories, Symantec remained dedicated to utilities programs ever since gaining that market's leadership with the acquisition of Norton Computing. In 1992 utility programs accounted for about 65 percent of revenues, whereas applications programs, such as Q&A, accounted for only 30 percent. In October 1993 Symantec acquired Certus International Corp. of Cleveland, Ohio, which had developed antivirus and security software for the PC. In the fall of 1993, Symantec acquired Fifth Generation Systems Inc. of Baton Rouge, Louisiana, a developer of DiskLock, FastBack, Safe, and other software utilities for various platforms. Both companies, while remaining in their respective locations, were administratively merged into the Peter Norton Computing Group in Santa Monica, which in 1992 accounted for 75 percent of Symantec's revenues. Finally, in the spring of 1994, Symantec made a $60 million bid to acquire its leading competitor in utilities programs, Central Point Software of Beaverton, Oregon, whose 1993 revenues were estimated at $80 million. The two companies combined held 60 percent of the $440 million market for utilities software, but competition had forced prices and profits down.

Symantec's latest major strategic move was to broaden its product offerings to include software for client/server systems and local area networks. Despite its dominance in the field of software utilities, the market was shrinking as the leading supplier of PC operating system software, Microsoft, was increasingly combining utilities into later versions of its DOS operating system. Microsoft, however, was less dominant in the field of network software. Thus Symantec purchased the NetDistributor Pro product and other technology from Trik Inc. in 1993. To aid its product development technology, in January 1994 Symantec acquired the Rapid Enterprises division from DataEase International Inc., based in Shelton, Connecticut, for $7.5 million. Rapid Enterprises had been developing a fourth-generation software development tool for client/server applications. These tools helped Symantec to revise its existing software products so as to be able to run on enterprise-wide networks. Symantec began offering a line of network utilities in early 1994 and later combined them in a common management program, Norton Administrator for Networks. These programs permit central monitoring and execution of utilities functions on a number of computers over a network. Symantec also planned to redesign the product foundations for better integration when used over wide area networks, but its competition was tougher in this field.

Growth at the End of the 20th Century and Beyond

During 1997, Symantec filed suit against competitor McAfee Associates, claiming the company had used Symantec and Norton software codes in several of its programs. McAfee countered with a $1 billion defamation suit. The companies settled in 1999, but the terms were kept confidential. Meanwhile, Symantec forged ahead with its growth plans. In 1998, the company acquired Intel Corp.'s antivirus software division, including its licensed Intel systems management technology. Symantec also purchased IBM's antivirus business. Eubanks left the following year to head up a new enterprise software company. IBM executive John W. Thompson was named CEO and became the first African American to lead a major U.S.-based software company.

Thompson was immediately charged with the task of securing Symantec's position in the corporate network security industry. He sold the company's Internet Tools division and the Visual Café product line, as well as the ACT software line. He then orchestrated several acquisitions including the $975 million purchase of Axent Technologies, a producer of firewall technology; L-3 Network Security; and Seagate's Network Storage Management Group.

The company continued its growth-through-acquisition strategy throughout the early years of the new millennium. In fact, between February 2000 and February 2006, Symantec purchased more than 25 companies. Thompson's strategy appeared to pay off as revenues increased by nearly 30 percent in 2003 and 2004. By late 2004, the firm had set the stage for its largest acquisition to date and one of the largest software mergers at the time. In December, Symantec made a $13 billion play for Veritas Software Corp., the leading provider of information storage software. News of the merger sent Symantec share prices plummeting by 32 percent in just one week, a signal that the investment world did not think the pairing of the two companies was a good fit. At the same time, Microsoft Corporation announced plans to enter the antivirus and corporate security markets in the near future, making the software giant Symantec's largest competitor. Despite analyst and investor dissent, shareholders approved the Veritas acquisition in June 2005. By now, the value of the all-stock deal had fallen to just under $11 billion due to Symantec's faltering share price. One month later, Symantec and Veritas officially joined forces and formed the fourth largest software company in the world based on revenue.

Thompson's next big task was combining the two companies--a process that proved tricky at first. The company reported in November 2005 that it had overstated its revenue forecast for 2006 and by July 2006, its share price was at its lowest point in three years. With intense competition nipping at its heels, Symantec reorganized its sales force, invested heavily in marketing, and also revamped training procedures for employees and resellers. Only time would tell, however, if the Veritas purchase would pay off. Indeed, a July 2006 Wall Street Journal article reported, "Mr. Thompson concedes that making the combined company work may be the biggest challenge he has faced at Symantec, but he says he is moving aggressively and is confident he will succeed."

Principal Subsidiaries

AXENT (EMEA) Ltd.; BindView Development Corporation; DataCenter Technologies N.V.; Delrina Corporation; Ejasent, Inc.; Invio Software, Inc.; Jareva Technologies, Inc.; Kvault Software Ltd.; Precise Software Solutions, Inc.; Sygate Technologies L.L.C.; Symantec (Australia) Pty. Ltd.; Symantec (Canada) Corporation; Symantec (Japan), Inc.; Symantec Australia Holding Pty. Ltd.; Symantec Cyprus Ltd.; Symantec Financing Ltd.; Symantec Holdings Ltd.; Symantec Information Technology (Beijing) Ltd.; Symantec International Ltd.; Symantec Israel Ltd.; Symantec Ltd.; Symantec Security Services Holding Ltd.; Symantec STDL Ltd.; Symantec Technology Services GmbH; Symantec UK (Limited); Symantec US Holdings L.L.C.; The Kernel Group Inc.; VERITAS Operating Corporation; VERITAS Software Corporation; VERITAS Software International Holding Ltd.; VERITAS Software (Beijing) Co., Ltd.; VERITAS Software Asia Pacific Trading PTE Ltd.; VERITAS Software Global L.L.C.; VERITAS Software GmbH; VERITAS Software India PVT. Ltd.; VERITAS Software Holdings Ltd.; VERITAS Software International Ltd.; VERITAS Software Investment Company; VERITAS Software Technology Corporation; W. Quinn, Inc.

Principal Competitors

CA Inc.; McAfee Inc.; Microsoft Corporation.

Further Reading

Bowen, Ted Smalley, and Jai Sigh, "Symantec on Prowl Again: Eyes Relationships with DataEase and Fifth Generation," PC Week, August 30, 1993, p. 6.

Cunningham, Cara A., "Symantec Makes Play for Tools with Acquisition of Two Firms," PC Week, June 15, 1992, pp. 147-48.

Flynn, Laurie J., "Shareholders Approve Symantec-Veritas Software Merger," New York Times, June 25, 2005.

Grimes, Ann, "Symantec Says It Will Purchase Three Small Security Companies," Wall Street Journal, July 18, 2002.

Heinlein, Susan W., "Gordon Eubanks Jr.: Intense Drive and Focus Distinguish Symantec Corp. Leader," Business Journal-San Jose, pp. S7-S8.

------, "Symantec: The Pride and the Passion," Business Journal-San Jose: Software Magazine, September 1991, p. 14.

Lacy, Sarah, and Steve Hamm, "'I Can't Wait to Compete'; As Symantec's Chief Finalizes His Deal for Veritas, War with Microsoft Looms," Business Week, March 21, 2005.

Lyons, Daniel J., "Stumbling Blocks Put Symantec's IPO on Hold," PC Week, September 5, 1988, p. 133.

Morrissey, Jane, and Karen D. Moser, "Symantec's REI Acquisition Fuels Enterprise Push," PC Week, January 10, 1994, pp. 107-8.

"Norton Gets a Bit Less Secure," Business Week, December 12, 2005.

Pitta, Julie, "Talk to Your Computer," Forbes, July 23, 1990, pp. 281-82.

Rebello, Kathy, "This Boss Measures 6.0 on the Richter Scale," Business Week, April 20, 1992, pp. 96-98.

Schoenberger, Karl, "I.B.M. Veteran Finds a Challenge at Symantec," New York Times, November 19, 2000, p. 4.

Shaffer, Richard A., "Symantec's Little Hits," Forbes, November 25, 1991, p. 196.

Vara, Vauhini, "Symantec Finds Diversifying Slow to Pay Off," Wall Street Journal, July 20, 2006, p. B1.

— Heather Behn Hedden; Updated by Christina M. Stansell

Symantec Corporation

Type	Public company
Traded as	NASDAQ: SYMC S&P 500 Component
Industry	Software Computer security
Founded	Sunnyvale, California, U.S. (March 1, 1982 (1982-03-01))
Founder(s)	Gary Hendrix Denis Coleman Gordon Eubanks
Headquarters	350 Ellis Street,[1] Mountain View, California, U.S.
Area served	Worldwide
Key people	Steve Bennett (Chairman) Enrique Salem (President and CEO)
Products	Norton AntiVirus Norton 360 Norton Internet Security Symantec Endpoint Protection Enterprise Vault Veritas Cluster Server Altiris Client Management Suite Veritas Storage Foundation Brightmail Gateway Symantec Data Loss Prevention Symantec Ghost NetBackup BackupExec Symantec Control Compliance Suite Symantec Critical System Protection Public key certificates
Revenue	US$ 6.19 billion (2011)[2]
Net income	US$ 597 million (2011)[2]
Total assets	US$ 12.71 billion (2011)[2]
Total equity	US$ 4.52 billion (2011)[2]
Employees	18,600 (2011)[3]
Divisions	List of divisions
Website	www.symantec.com

Symantec Corporation is the largest maker of security software for computers, best known for its Norton brand. The company is headquartered in Mountain View, California, and is a Fortune 500 company and a member of the S&P 500 stock market index.

Contents 1 History 2 Norton products 3 Enterprise software 4 Mergers and Acquisitions 5 2012 source code hack 6 Scareware allegations and lawsuit 7 See also 8 References 9 External links

History

Founded in 1982 by Gary Hendrix with a National Science Foundation grant, Symantec was originally focused on artificial intelligence-related projects, including a database program. Hendrix hired several Stanford University natural language processing researchers as the company's first employees, among them Barry Greenstein (professional poker player and developer of the word processor component within Q&A).

In 1984 it became clear that the advanced natural language and database system that Symantec had developed could not be ported from DEC minicomputers to the PC. This left Symantec without a product, but with expertise in natural language database query systems and technology. As a result, later in 1984 Symantec was acquired by another, smaller software startup company, C&E Software, founded by Denis Coleman and Gordon Eubanks and headed by Eubanks. C&E Software was in the process of developing an integrated file management and word processing program.

The merged company retained the name Symantec, and Eubanks became its chairman, Vern Raburn, the former CEO of the original Symantec, remained as CEO of the combined company. Soon after the merger, Eubanks and Raburn recruited Rod Turner into Symantec as its executive vice president for marketing, sales, product management and international business. Turner had been in interviews and discussions with C&E Software in early 1984 about becoming the president of C&E. These discussions had ended when the two companies merged. The new Symantec combined the file management and word processing functionality that C&E had planned, and added an advanced Natural Language query system (architected by Gary Hendrix and engineered by Dan Gordon)that set new standards for ease of database query and report generation. The natural language system was named "The Intelligent Assistant". Turner chose the name of Q&A for Symantec's flagship product, in large part because the name lent itself to use in a short, easily merchandised logo. Brett Walter designed the user interface of Q&A (Brett Walter, Director of Product Management), which set new standards for logical and easy to use design.^{[citation needed]} Q&A was released in November 1985.

During 1986, Vern Raburn and Gordon Eubanks swapped roles, and Eubanks became CEO and president of Symantec, while Raburn became its chairman. Subsequent to this change, Raburn had little involvement with Symantec, and in a few years time, Eubanks added the Chairmanship to his other roles.

After a slow start for sales of Q&A in the fall of 1985 and spring of 1986, Turner signed up a new advertising agency called Elliot Dickens, embarked on an aggressive new advertising campaign, and came up with the "Six Pack Program" in which all Symantec employees, regardless of role, went on the road, training and selling dealer sales staff nationwide in the USA. Turner named it Six Pack because employees were to work six days a week, see six dealerships per day, train six sales representatives per store and stay with friends free or at Motel 6. Simultaneously, a promotion was run jointly with SofSell (which was Symantec's exclusive wholesale distributor in the US for the first year that Q&A was on the market). This promotion was very successful in encouraging dealers to try Q&A.

During this time, Symantec was advised by Jim Lally and John Doerr – both were board members of Symantec at that stage – (Kleiner Perkins Caufield and Byers) that if Symantec would cut its expenses and grow revenues enough to achieve cash flow break-even, then KPCB would back the company in raising more venture capital. To accomplish this, the management team worked out a salary reduction schedule where the chairman and the CEO would take zero pay, all vice presidents would take a 50% pay cut, and all other employees' pay was cut by 15%. Two employees were laid off. Eubanks also negotiated a sizable rent reduction on the office space the company had leased in the days of the original Symantec. These expense reductions, combined with strong international sales of Q&A, enabled the company to attain break-even. Because all team members were sharing in the suffering of reduced income, and because of the unifying affects of the Six Pack Program, Symantec's morale during this period was very high – the more so when one considers that the company had a very uncertain future at this time.^{[citation needed]}

The significantly increased traction for Q&A which resulted from this re-launch grew Symantec's revenues substantially, along with early success for Q&A in international markets (uniquely a German version was shipped three weeks after the US version, and it was the first software in the world that supported German Natural Language) following Turner's having placed emphasis on establishing international sales distribution and multiple language versions of Q&A from initial shipment.

In 1985, Rod Turner negotiated the publishing agreement with David Whitney for Symantec's second product, which Turner named NoteIt (an annotation utility for Lotus 1-2-3). It was evident to Turner that NoteIt would confuse the dealer channel if it was launched under the Symantec name, because Symantec had built up interest by that stage in Q&A (but not yet shipped it), and because the low price point for the utility would not be initially attractive to the dealer channel until demand had been built up. Turner felt that the product should be marketed under a unique brand name. Turner and Gordon E. Eubanks, Jr., then chairman of Symantec Corporation, agreed to form a new division of Symantec, and Eubanks delegated the choice of name to Turner. Turner chose the name Turner Hall Publishing, to be a new division of Symantec devoted to publishing third-party software and hardware. The objective of the division was to diversify revenues and accelerate the growth of Symantec. Turner chose the name Turner Hall Publishing, using his last name and that of Dottie Hall (Director of Marketing Communications) in order to convey the sense of a stable, long established, company.^[4][5] Turner Hall Publishing's first offering was Note-It, a notation utility add-in for Lotus 1-2-3, which was developed by David Whitney, and licensed to Symantec.^[6][7] Its second product was the Turner Hall Card, which was a 256k RAM, half slot memory card, initially made to inexpensively increase the available memory for Symantec's then flagship product, Q&A. The Turner Hall division also marketed the card as a standalone product. Turner Hall's third product, also a 1-2-3 add-in was SQZ! a Lotus 1-2-3 spreadsheet compression utility developed by Chris Graham Synex Systems.^[8] In the summer of 1986 Eubanks and Turner recruited Tom Byers from Digital Research, to expand the Turner Hall Publishing product family and lead the Turner Hall effort.

By the winter of 1986–87, the Turner Hall Publishing division had achieved success with NoteIt, the Turner Hall Card, and SQZ!. The popularity of these products, while contributing a relatively small portion of revenues to Symantec, conveyed the impression that Symantec was already a diversified company, and indeed, many industry participants were under the impression that Symantec had acquired Turner Hall Publishing. In 1987, Byers recruited Ted Schlein into the Turner Hall Product Group to assist in building the product family and in marketing.

Revenues from Q&A, and from Symantec's early launch into the international marketplace, combined with Turner Hall Publishing, generated the market presence and scale that enabled Symantec to make its first merger/acquisition, in February 1987, that of BreakThrough Software, maker of the TimeLine project management software for DOS. Because this was the first time that Symantec had acquired a business that had revenues, inventory, and customers, Eubanks chose to change nothing at BreakThrough Software for six months, and the actual merger logistics started in the summer of 1987, with Turner being appointed by Eubanks as general manager of the TimeLine business unit, Turner was made responsible for the successful integration of the company into Symantec and ongoing growth of the business, with P&L. There was a heavy emphasis placed on making the minimum disruption by Eubanks and Turner.

Soon after the acquisition of TimeLine/Breakthrough Software, Eubanks reorganized Symantec, structuring the company around product-centric groups, each having its own development, quality assurance, technical support and product marketing functions, and a General Manager with profit and loss responsibility. Sales, finance and operations were centralized functions that were shared. This structure lent itself well to Symantec's further growth through mergers and acquisitions. Eubanks made Turner general manager of the new TimeLine Product Group, and simultaneously of the Q&A Product Group, and made Tom Byers general manager of the Turner Hall Product Group. Turner continued to build and lead the company's international business and marketing for the whole company.

At the TimeLine Product Group, Turner drove strong marketing, promotion and sales programs in order to accelerate momentum. By 1989 this merger was very successful – product group morale was high, TimeLine development continued apace, and the increased sales and marketing efforts applied built the TimeLine into the clear market lead in PC project management software on DOS. Both the Q&A and TimeLine product groups were healthily profitable. The profit stream and merger success set the stage for subsequent merger and acquisition activity by the company, and indeed funded the losses of some of the product groups that were subsequently acquired.^[9] In 1989, Eubanks hired John Laing as VP worldwide sales, and Turner transferred the international division to Laing. Eubanks also recruited Bob Dykes to be Exec VP for operations and finance, in preparation for the upcoming IPO. In July 1989 Symantec had its IPO.

In May 1990 Symantec announced its intent to merge with and acquire Peter Norton Computing, a developer of various utilities for DOS. Turner was appointed as product group manager for the Norton business, and made responsible for the merger, with P&L responsibility. Ted Schlein was made product group manager for the Q&A business.

The Peter Norton group merger logistical effort began immediately while the companies sought approval for the merger, and in August 1990, Symantec concluded the purchase—by this time the combination of the companies was already complete. Symantec's consumer antivirus and data management utilities are still marketed under the Norton name. At the time of the merger, Symantec had built upon its Turner Hall Publishing presence in the utility market, by introducing Symantec Antivirus for the Macintosh (SAM), and Symantec Utilities for the Macintosh (SUM). These two products were already market leaders on the MAC, and this success made the Norton merger more strategic. Symantec had already begun development of a DOS based antivirus program one year before the merger with Norton. The management team had decided to enter the antivirus market in part because it was felt that the antivirus market entailed a great deal of ongoing work to stay ahead of new viruses. The team felt that Microsoft would be unlikely to find this effort attractive, which would lengthen the viability of the market for Symantec. Turner decided to use the Norton name for obvious reasons, on what became the "Norton Antivirus", which Turner and the Norton team launched in 1991. At the time of the merger, Norton revenues were approximately 20 to 25% of the combined entity. By 1993, while being led by Turner, Norton product group revenues had grown to be approximately 82% of Symantec corp's total.

At one time Symantec was also known for its development tools, particularly the THINK Pascal, THINK C, Symantec C++, and Visual Cafe packages that were popular on the Macintosh and IBM PC compatible platforms. These product lines resulted from acquisitions made by the company in the late 1980s and early 1990s. These businesses and the Living Videotext acquisition were consistently unprofitable for Symantec, and these losses diverted expenditures away from both the Q&A for Windows and the TimeLine for Windows development efforts during the critical period from 1988 through 1992. Symantec exited this business in the late-1990s as competitors such as Metrowerks, Microsoft, and Borland gained significant market share.

Norton products

The 2009 line-up included Norton 360, Norton AntiVirus (for Windows and Mac), Norton Internet Security (for Windows and Mac), Norton SystemWorks (which now contains Norton Utilities), Norton Save & Restore, Norton Ghost, Norton pcAnywhere, Norton Smartphone Security, Norton Partition Magic, Norton Online Backup, and OnlineFamily.Norton.

The Symantec Security Response organization (formerly Symantec Antivirus Research Center) is one of the foremost antivirus and computer security research groups in the industry with over 400 full-time employees.

Enterprise software

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Approximately two-thirds of the company's revenue is derived from software designed for companies and large organizations, i.e. enterprise software.

Symantec substantially grew its enterprise business when it acquired VERITAS Software. Its Flagship enterprise security software are End Point Security and Protection Suite (Small Business Edition) for 5 users and up.

End Point security has continuous update capability as well as user defined update schedule. Furthermore it has proactive intrusion prevention capability, malware, spam protection and content filtering. The latest version of Symantec Endpoint Protection is 12.1.

Protection Suite (Small Business Edition) is tailored for small business with minimal to almost no IT staff at affordable price levels. The package includes End Point security, as well as system backup and recovery. The system backup and recovery complements Ghost solution suite. In small business, the system backup and recovery works better for PC and system protection and Ghost from minimal technical expertise point of view. The suite also has some Exchange protection features. The protection suite 4 has a tool to remove malware from infected PCs. Reference: Symantec product specification.^[10]

As of September 25, 2011 the latest released version of Small Business protection suite is 4. There are many fraudulent emails claiming to offer free upgrades to version 4^{[citation needed]}.

Symantec is also monitoring the Internet with the Symantec Global Intelligence Network, Deepsight,^[11] and publish an annual free report Internet Security Threat Report.^[12] This continuous threats knowledge is permitting Symantec to propose managed security services, from their Security Operations Center.^[13]

Symantec propose Enterprises to:

• Develop and Enforce IT Policies with Control Compliance Suite
• Protect Information with Data Loss Prevention Suite and Encryption (alias PGP)
• Authenticate Identities with VeriSign Identify and Authentication
• Manage Systems with Altiris IT Management Suite
• Protect the Infrastucture with Symantec Protection Suite (including SEP, ex-SAV: Symantec Antivirus, but also BackupExec from Veritas)

And is currently extending to cover Mobile and virtualization (with cloud computing evolution).

Mergers and Acquisitions

Symantec building in Pune, Maharashtra, India

Main article: List of mergers and acquisitions by Symantec

ACT! acquisition and sale

In 1993 Symantec acquired ACT! from Contact Software International. Symantec sold ACT! to SalesLogix in 1999. At the time it was the world's most popular CRM application for Windows and Macintosh.^[14]

Veritas acquisition

On December 16, 2004, Veritas and Symantec announced their plans for a merger. With Veritas valued at $13.5 billion, it was the largest software industry merger to date. Symantec's shareholders voted to approve the merger on June 24, 2005; the deal closed successfully on July 2, 2005. July 5, 2005 was the first day of business for U.S. offices of the new, combined software company. As a result of this merger, Symantec includes storage and availability related products in its portfolio namely Veritas File System (VxFS), Veritas Volume Manager (VxVM), Veritas Volume Replicator (VVR) and Veritas Cluster Server (VCS), NetBackup (NBU), Backup Exec (BE), Enterprise Vault (EV).

Sygate acquisition

On August 16, 2005, Symantec acquired Sygate^[15] a security software firm with about 200 staff, based in Fremont, California. As of November 30, 2005 all Sygate personal firewall products were discontinued by Symantec and now appear^{[original research?]} to be part of Symantec's Norton range called Norton Personal Firewall (discontinued and merged into Norton-brand line of software).

Altiris acquisition

On January 29, 2007, Symantec announced plans to acquire Altiris and on April 6, 2007 the acquisition was completed. Altiris specializes in service-oriented management software which allows organizations to manage IT assets. They also provide software for web services, security, and systems management products. Established in 1998, Altiris is headquartered in Lindon, Utah, United States.

Application Performance Management sellout

On January 17, 2008, Symantec announced^[16] that they were spinning off the Application Performance Management business and its i3 product range to Vector Capital. Precise Software Solutions took over development, product management, marketing and sales for the APM business, launching as an independent company on September 17, 2008.^[17]

Acquisition of PC Tools

On August 18, 2008, Symantec announced the signing of an agreement to acquire PC Tools (company) such that PC Tools would maintain separate operations. The financial terms of the acquisition were not disclosed.

MessageLabs acquisition

On October 9, 2008, Symantec announced its intent to acquire Gloucester based MessageLabs (a 2007 spin-off from parent company Star Internet) to boost its Software-as-a-Service (SaaS) business. Symantec purchased the online messaging and Web security provider for about $695 million in cash. (Currency fluctuation) The acquisition closed on November 17, 2008.

MessageLabs’ established suite of online services for messaging and web security complements the offerings available through Symantec Protection Network, the Symantec SaaS platform for providing market-leading technologies to customers online. The newly created SaaS product group will accelerate the development of new SaaS solutions and hybrid offerings for IT professionals that secure and manage information in the cloud. Customers will benefit from access to a greater number of SaaS offerings and the opportunity to purchase through a broader network of partners in more locations around the world

PGP and Guardian Edge Acquisition

On April 29, 2010, Symantec announced its intent to acquire PGP and Guardian Edge. The acquisitions provide access to established encryption, key management and technologies for Symantec's customers. The acquisition closed on June 4, 2010

VeriSign Security Acquisition

On May 19, 2010, Symantec signed a definitive agreement to acquire VeriSign’s security business, which includes the Secure Sockets Layer (SSL) Certificate Services, the Public Key Infrastructure (PKI) Services, the VeriSign Trust Services and the VeriSign Identity Protection (VIP) Authentication Service. The acquisition closed on August 9, 2010.

ClearWell Systems Acquisition

On May 19, 2011 Symantec announced the acquisition of ClearWell systems for approximatelly $390 million.

"Symantec has entered into an agreement to acquire privately-held Clearwell Systems, Inc., a recognized leader in the eDiscovery market. Clearwell's eDiscovery solution complements and enhances Symantec’s Enterprise Vault eDiscovery capabilities for a more complete end-to-end eDiscovery solution. Symantec’s acquisition of Clearwell brings together the industry’s leading eDiscovery, archiving and backup offerings to provide customers one of the most comprehensive information management solutions available."

Liveoffice Acquisition

On January 17, 2012 Symantec announced the acquisition of cloud email archiving company LiveOffice. The acquisition price was $115 million.

LiveOffice, Symantec’s hosted archiving OEM partner for Enterprise Vault.cloud, will add a cloud-based messaging protection solution to Symantec's information security and management solutions arsenal.

Last year, Symantec joined the cloud storage and backup circuit with its Enterprise Vault.cloud and Cloud Storage for Enterprise Vault solutions, in addition to a cloud messaging solution, Symantec Instant Messaging Security cloud (IMS.cloud).

Symantec advised the acquisition will allow it to add to its information governance products, allowing customers to have the choice to store information either on-premise or in Symantec's data centers or a mix of both.

2012 source code hack

On January 17, 2012, Symantec admitted to their network getting hacked. A hacker known as "Yama Tough" obtained Symantec's source code by hacking an Indian Government server. Yama Tough has released parts of the source code, and has threatened to release more. According to Chris Paden, a Symantec spokesman, the source code that was taken was from enterprise products that were between 5 and 6 years old.^[18]

Scareware allegations and lawsuit

On January 12, 2012, James Gross sued Symantec for running fake "Scareware" scans that alert users to errors and problems that are on their computers. Gross claims after the scan only some of the errors and problems were corrected, and that in order to remove the rest the user is prompted to purchase software. After Gross purchased the software he claimed the software did not speed up his computer or remove the detected viruses. Gross later hired a digital forensics expert to back up his claim. Symantec has denied the allegations and said it will defend the case.^[19] This case has brought renewed debate on some of the tactics used by some security software companies, which are similar to tactics used by crimeware.

See also

	Companies portal
	San Francisco Bay Area portal
	Computer security portal

• Gordon Eubanks (former CEO)
• Huawei Symantec – Joint Venture of Huawei and Symantec
• List of mergers and acquisitions by Symantec
• PC Tools (company)

References

This article uses bare URLs for citations. Please consider adding full citations so that the article remains verifiable. Several templates and the Reflinks tool are available to assist in formatting. (Reflinks documentation) (February 2012)

1. ^ "Contact Us - Symantec Corp". Symantec.com. http://www.symantec.com/about/profile/contact.jsp. Retrieved 2012-02-10. 
2. ^ ^{a b c d} "Financial Tables". Symantec Investor Relations. http://www.google.com/finance?q=NASDAQ:SYMC&fstype=ii. Retrieved January 23, 2009. 
3. ^ "Form 10-K Period: April 1, 2011, p. 12". Symantec. May 20, 2011. http://services.corporate-ir.net/SEC.Enhanced/SecCapsule.aspx?c=89422&fid=7583410. Retrieved August 3, 2011. 
4. ^ "Gordon Eubanks Oral History, COMPUTERWORLD HONORS PROGRAM, Daniel S. Morrow, November 8, 2000, pages 17–18". Google. http://docs.google.com/viewer?a=v&q=cache:GaxdaUdMgCIJ:www.cwhonors.org/archives/histories/Eubanks.pdf+%22Turner+Hall+Publishing%22&hl=en&gl=ca&sig=AHIEtbQhf3lmxre17qqPIDDtN8oTAMA5Hw. Retrieved November 9, 2010. 
5. ^ "RasterOps-Truevison adds two industry leaders to board of directors; company names Walter W., Business Wire, Tuesday, March 21, 1995". Allbusiness.com. http://www.allbusiness.com/company-activities-management/board-management/7109119-1.html. Retrieved November 9, 2010. 
6. ^ U.S.. "Symantec". Answers.com. http://www.answers.com/topic/symantec. Retrieved November 9, 2010. 
7. ^ "Company Histories: Symantec Corporation, Funding Universe". Fundinguniverse.com. http://www.fundinguniverse.com/company-histories/Symantec-Corporation-Company-History.html. Retrieved November 9, 2010. 
8. ^ "Hendren and Associates". Hendrenet.com. http://hendrenet.com/synex.htm. Retrieved November 9, 2010. 
9. ^ "Gordon Eubanks Oral History, COMPUTERWORLD HONORS PROGRAM, Daniel S. Morrow, November 8, 2000, pages 18–19". Google. http://docs.google.com/viewer?a=v&q=cache:GaxdaUdMgCIJ:www.cwhonors.org/archives/histories/Eubanks.pdf+%22Turner+Hall+Publishing%22&hl=en&gl=ca&sig=AHIEtbQhf3lmxre17qqPIDDtN8oTAMA5Hw. Retrieved November 9, 2010. 
10. ^ "Desktop Security Software". Symantec. 2011-10-21. http://www.symantec.com/business/protection-suite-small-business-edition. Retrieved 2012-02-10. 
11. ^ "Enhanced Security Protection - Symantec Global Intelligence Network". Symantec.com. 2009-07-13. http://www.symantec.com/business/playerdetail.jsp?cid=enhanced_secur_protection_gin&sg=business&type=videos&lg=en&ct=us&fp=y. Retrieved 2012-02-10. 
12. ^ "Internet Security Threat Report". Symantec. http://www.symantec.com/business/threatreport/. Retrieved 2012-02-10. 
13. ^ "Security Operations Center World Tour". Symantec.com. http://www.symantec.com/business/playerdetail.jsp?cid=soc_world_tour&sg=business&type=videos&lg=en&ct=us&fp=y. Retrieved 2012-02-10. 
14. ^ Darrow, Barbara (December 7, 1999). "Symantec To Sell ACT To SalesLogix". Crn.com. http://www.crn.com/news/channel-programs/18811391/symantec-to-sell-act-to-saleslogix.htm;jsessionid=XLUTh0qChZ1yuNbv27M2nw**.ecappj03. Retrieved March 30, 2011. 
15. ^ "Symantec Completes Sygate Acquisition". Symantec.com. http://www.symantec.com/press/2005/n051010c.html. Retrieved November 9, 2010. 
16. ^ "Symantec to Sell Application Performance Management Business to Vector Capital". Symantec.com. http://www.symantec.com/about/news/release/article.jsp?prid=20080117_01. Retrieved November 9, 2010. 
17. ^ "The new Precise to redefine application performance management". precise.com. http://www.precise.com/news/press/2008-0816_performance.asp. Retrieved April 7, 2011. 
18. ^ Gregg Keizer (2012-01-17). "Symantec backtracks, admits own network hacked". Computerworld. http://www.computerworld.com/s/article/9223495/Symantec_backtracks_admits_own_network_hacked.html. Retrieved 2012-02-10. 
19. ^ Yin, Sara (2012-01-12). "Symantec Sued for Scareware Tactics". Securitywatch.pcmag.com. http://securitywatch.pcmag.com/none/292826-symantec-sued-for-scareware-tactics. Retrieved 2012-02-10. 

External links

• Official website
• History of Symantec
• Norton Official Site
• Verisign Official Site
• PCTools Official Site
• Barrygreenstein.com with an article from the L.A. Times on Barry Greenstein, his poker career and his work at Symantec as employee number five.

v d e Symantec People Gary Hendrix (founder) · Gordon Eubanks (1990s CEO) · Enrique T. Salem (CEO) · John W. Thompson (chairman) Current products Backup Exec · Disaster Recovery Advisor · Enterprise Vault · Ghost · NetBackup · Norton 360 · Norton AntiVirus · Norton Download Insight · Norton DNS · Norton File Insight · Norton Insight · Norton Internet Security · Norton LiveUpdate · Norton PC Checkup · Norton Personal Firewall · Norton Removal Tool · Norton Safe Web · Norton Utilities · OnlineFamily.Norton · pcAnywhere · PureDisk · SONAR · Symantec Endpoint Protection · THINK Technologies · Veritas File System · Veritas Storage Foundation · Veritas Volume Manager Discontinued Drive Image · GoBack · Grandview · MORE · Norton AntiBot · Norton CleanSweep · Norton Commander · NUM · Note-It · PartitionMagic · Q&A · SQZ! · SUM · Symantec C++ · THINK C · THINK Reference · Time Line · Visual Café · WinFax Acquisitions and mergers 4FrontSecurity · @stake · Altiris · Binary Research · BindView · Breakthrough Software · Brightmail · Central Point Software · Company-i · Delrina · Dynamic Microprocessor Associates · Fast Track · Fifth Generation Systems · Leonard Development Group · LIRIC Associates · MessageLabs · Mountain Wave · Nexland · ON Technology · Peter Norton Computing · Platform Logic · PowerQuest · Quarterdeck · Quest Development · Recourse Technologies · Relicore · Riptech · SecurityFocus · SLR Systems · Sygate Technologies · TurnTide · Urlabs · Veritas Software · Whitewater Group · WholeSecurity · Zortech Category ·  Commons

v d e Companies of the NASDAQ-100 index Activision Blizzard Adobe Akamai Alexion Pharmaceuticals Altera Amazon.com Amgen Apollo Group Apple Applied Materials Autodesk ADP Avago Baidu Bed Bath & Beyond Biogen Idec BMC Software Broadcom C.H. Robinson CA Technologies Celgene Cerner Check Point Cisco Citrix Cognizant Comcast Costco Ctrip Dell Dentsply DirecTV Dollar Tree eBay Electronic Arts Expedia Expeditors International Express Scripts F5 Networks Fastenal First Solar Fiserv Flextronics Fossil Garmin Gilead Sciences Google Green Mountain Coffee Roasters Hansen Natural Henry Schein Infosys Intel Intuit Intuitive Surgical KLA Tencor Lam Research Liberty Interactive Life Technologies Linear Technology Marvell Mattel Maxim Integrated Products Microchip Technology Micron Technology Microsoft Mylan NetApp Netflix News Corporation Nuance Communications Nvidia O'Reilly Auto Parts Oracle Paccar Paychex Perrigo Priceline.com Qualcomm Randgold Resources Research In Motion Ross Stores SanDisk Seagate Sears Sigma-Aldrich Sirius XM Radio Staples Starbucks Stericycle Symantec Teva Pharmaceutical Verisign Vertex Pharmaceuticals Virgin Media Vodafone Warner Chilcott Whole Foods Market Wynn Resorts Xilinx Yahoo!

v d e Major information technology companies List of the largest technology companies List of the largest software companies Semiconductor sales leaders by year Consulting and outsourcing Accenture Atos Booz Allen Hamilton BT Global Services CACI Capgemini CGI Group Cognizant CSC Deloitte Dell Services Fujitsu Getronics HCL Technologies Hitachi HP Enterprise Services IBM Global Services Indra Infosys Logica NEC Northrop Grumman NTT Data Orange Business Services SAIC TCS T-Systems Unisys Wipro Imaging Canon HP Kodak Kyocera Lexmark Ricoh Seiko Epson Sharp Corporation Toshiba Xerox Information storage Dell EMC Fujitsu Hitachi HP IBM NetApp Oracle Samsung Seagate Western Digital Mainframes IBM Mobile devices Apple ASUS HTC Huawei LG Motorola Mobility NEC Casio Nokia RIM Samsung Sony ZTE Networking equipment Alcatel-Lucent Avaya Cisco Ericsson Fujitsu HP Huawei Juniper Mitsubishi Electric Motorola Solutions NEC Nokia Siemens ZTE OEMs Celestica Flextronics Foxconn Jabil Quanta Sanmina-SCI Personal computers and servers Acer (Gateway) Apple ASUS Dell Fujitsu HP Lenovo NEC Toshiba Servers only IBM Oracle Unisys Semiconductors Advanced Micro Devices Broadcom Elpida Memory Freescale Semiconductor Hynix Infineon Technologies Intel Marvell Technology Group MediaTek Micron Technology Nvidia NXP Panasonic Qualcomm Renesas Electronics Samsung Sony STMicroelectronics Texas Instruments Toshiba VIA Technologies Foundries GlobalFoundries TSMC United Microelectronics Corporation Software Adobe Apple CA Google HP Software IBM Intuit McAfee Microsoft Oracle SAP Symantec Telecommunications services América Móvil AT&T Bell Canada BT Bharti Airtel CenturyLink China Mobile China Telecom China Unicom Comcast Deutsche Telekom France Télécom Hutchison KDDI KPN KT MTS NTT NTT DoCoMo Reliance Communications Rogers SingTel SK Telecom SoftBank Sprint Nextel Swisscom Telenor Telecom Italia Telefónica TeliaSonera Verizon Vivendi Vodafone Websites Amazon.com Baidu eBay Facebook Google Yahoo! Methodology: FY2010/11 applicable revenues of over: group 1-10 and 12 - US$3 billion; group 11 - US$10 billion

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