Largest Internet protection software maker Symantec Corporation (SYMC) recently announced the launch of Symantec VeriSign Identity Protection (VIP) Access for Mobile in the iPad. The solution will be available on the App Store.
The technology protects iPad connectivity through a dynamic one-time-password (OTP) credential, which is opened using a username and password to strengthen the security of online accounts protected by the VIP Authentication Service. This will provide a second layer of security to iPad users.
The Internet security software introduced by the company is specially targeted at the iPad and the mobile computing segment, with the intention of generating additional revenue from it. This new development will enable iPad users to navigate more than 750 websites that are part of the VIP Network.
Notably, the solution is not exclusive to the iPad. Previously, Symantec’s solution has enhanced Dell’s (DELL) E-mail Management Services (EMS) through its cloud-based hosted services, which augmented its e-mail security features and made EMS more efficient.
The enhanced e-mail features to be offered by Dell include Anti-Virus and Anti-Spam Capabilities, as well as Image and Content Control and Boundary Encryption. Through these features, Dell expects to offer customers and channel partners continuous network protection along with confidentiality.
Dell’s EMS line is an important component of its Software as a Service (SaaS) portfolio, which is generally used by organizations to simplify their IT environments, as they increasingly transfer their operations to the cloud. They also help companies to reduce costs. Symantec’s e-mail security solutions will enrich Dell’s overall SaaS portfolio.
For the fourth quarter of fiscal 2011, revenue is estimated at between $1.585 billion and $1.605 billion, up 4% to 5% year over year, which seems a decent outlook.
On the other hand, we are a bit concerned about the intense competition that the company faces from big and small players, as well as hardware and software manufacturers entering the IT security business. Moreover, the security offered by the new Microsoft (MSFT) Windows operating systems also poses some challenges.
Symantec has a Zacks #3 Rank, which translates into a short-term Hold recommendation.
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