Symantec 2007 Annual Report Download - page 11

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the reductions are fully implemented, the plan is expected to save approximately $200 million in costs on an
annualized basis.
• We completed two small acquisitions during fiscal 2007, Company-i Limited and 4FrontSecurity, Inc. In
addition, in a more significant transaction announced during fiscal 2007, and completed in April 2007, we
acquired Altiris, Inc., a leading provider of IT management software. We believe this acquisition will enable
us to help customers better manage and enforce security policies at the endpoint, identify and protect against
threats, and repair and service their IT assets.
• We expanded our operations in India and China as we look to broaden our access to engineering talent,
primarily in product support and development, on a worldwide basis. This has increased the efficiency of our
support and development activities.
• We repurchased 162 million shares of our common stock for an aggregate amount of $2.8 billion.
Founded in 1982, Symantec has grown to approximately $5.2 billion in revenue in fiscal 2007, positioning
Symantec as the fourth largest independent software company in the world based on revenue. We have operations in
40 countries and our principal executive offices are located at 20330 Stevens Creek Blvd, Cupertino, California
95014. Our telephone number at that location is (408) 517-8000. Our home page on the Internet is
www.symantec.com. Other than the information expressly set forth in this annual report, the information contained,
or referred to, on our website is not part of this annual report.
Industry
The security market consists of endpoint security; the protection and compliance of end-user devices such as
desktop computers, laptops, and handhelds; data and messaging security; network security; and security services.
Over the past several years, we have seen security threats continue to evolve from traditional viruses, worms, Trojan
horses, and other vulnerabilities, and more recently from threats such as phishing (attacks that use spoofed websites
and emails designed to record keystrokes or to fool recipients into divulging personal financial data), email fraud,
and identity theft. We have also seen security rise to a top priority for enterprises as information security is
increasingly linked to regulatory compliance. This evolution is a key driver of our research and development and
acquisition strategies, as we strive to differentiate our solutions from the competition and address our customers’
changing needs.
As a result of our acquisition of Veritas in July 2005, we are now the leading supplier of hardware-independent
storage software. The worldwide storage software market consists of storage management, server and application
management, backup and archiving, and infrastructure software products and services. Key drivers of demand in
this market include the ever-increasing quantity of data being collected, the need for data to be protected,
recoverable, and accessible at all times, and the need for a growing number of critical applications to be
continuously available and highly performing.
Other factors driving demand in this market include the increase in the number of Internet users, computing
devices, companies conducting business online, the continuous automation of business processes, the on-going
desire of organizations to manage their overall IT risk, the increasing pressure on companies to lower storage and
server management costs while simultaneously increasing the utilization, availability levels, and performance of
their existing IT infrastructure, and the increasing importance of document retention and regulatory compliance
solutions.
For information regarding our revenue by segment, revenue by geographical area, and long-lived assets by
geographical area, see Note 15 of the Notes to Consolidated Financial Statements. For information regarding the
amount and percentage of our revenue contributed in each of our product categories and our financial information,
including information about geographic areas in which we operate, see Item 7, Management’s Discussion and
Analysis of Financial Condition and Results of Operations and Note 15 of the Notes to Consolidated Financial
Statements. For information regarding risks associated with our international operations, see Item 1A, Risk Factors.
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