Symantec growing despite 'rationalisation' of small accounts - Broadcom boss

The recently acquired Symantec business is in growth mode despite ditching a number of its smaller customers, according to Broadcom boss Hock Tan.

Broadcom acquired Symantec at the end of last year, with rumours in the channel suggesting that the new owner would be turning its back on a number of clients to focus on a handful of large customers.

Tan confirmed this approach on an earnings call for Broadcom's quarterly results.

"Bookings in our Symantec core accounts are growing, offsetting the transition out of the smaller commercial accounts as we continue to rationalise the business," he said.

Symantec's revenue was flat in the quarter, at "over $400m", the CEO added.

The wider Broadcom business saw sales rise six per cent for the three-month period ending 2 August, to $5.8bn.

Broadcom's strategy with Symantec has caused a stir, with chatter suggesting that the channel would be cut out of the large accounts that the new owner is now focusing on.

A number of competitors have seized the opportunity entice partners to switch allegiance, including NetSkope, Trend Micro, Mimecast and CrowdStrike.

Tan expects Symantec's revenue to rise by four per cent sequentially in the current quarter.

Broadcom's share price rose over four per cent when the stock exchange opened today.

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