Broadcom Cyber Security Aggregator Program: Jump-starting Symantec Partners?
Broadcom, leveraging its Symantec enterprise business acquisition, has launched a global cyber security aggregator program (CSAP) to support a “subset of commercial enterprises with unique needs.” Strategic CSAP partners include seven distributors: Arrow Electronics’ Enterprise Computing Solutions Business, M. Tech Products, SB C&S, Synnex, Tech Data, Carahsoft and Westcon.
Among the big questions: Is Broadcom preparing to jumpstart the overall Symantec channel — especially in the small business market? Or is the CSAP push limited only to select channel partners at the higher end of the market?
Here’s some recent context to frame those questions:
- Broadcom acquired Symantec’s enterprise security business for $10.7 billion in 2019.
- Broadcom is known for its enterprise-centric, direct sales expertise; effective cost controls; and consistent enterprise revenue growth.
- Broadcom hasn’t said much about Symantec’s small business channel efforts since the acquisition.
Fast forward to present day. Amid Broadcom’s enterprise focus, some of Symantec’s small business channel partners have pursued alternative security software suppliers. Moreover, fast-growing endpoint detection and response (EDR) security companies such as CrowdStrike and SentinelOne have been displacing Symantec in some enterprise, MSP and MSSP accounts.
Broadcom Security Business: More Revenue, New Partner Push?
Still, Broadcom’s enterprise security push has shown signs of progress. If you exclude services and hardware, Symantec Enterprise product revenue was $380 million in Broadcom’s most recent quarter — up 10% from Broadcom’s Q1 of fiscal 2020, which was the unit’s first quarter after the acquisition, the company disclosed this week. Broadcom did not say how much of the revenue growth involved direct vs indirect security sales.
Now, along comes Broadcom’s CSAP program aligned with seven distributors. Broadcom did not say how many channel partners it expects the distributors to reach. Nor did Broadcom disclose the type of commercial enterprises it wants partners to engage.
Nevertheless, there are signs that Broadcom wants to jumpstart the Symantec channel. In a statement about the CSAB program, the company said:
“Broadcom recognizes the power and value of the indirect channel built by Symantec. Building on this foundation, Broadcom is making significant investments, including sales training and enablement, to ensure its distribution partners are well equipped to provide a higher level of customer care and support and a quicker response time to evolving threats.”
Broadcom Channel Chief Perspectives
Added Cynthia Loyd, VP of global partners, Global Enterprises & Commercial Sales, Broadcom:
“Commercial enterprises are important to Broadcom’s enterprise software business, and we are investing in our distribution partners to expand our reach and deliver better experiences for these customers. Our select partners are uniquely positioned to maximize value creation throughout the entire customer lifecycle by delivering superior service and support, including technical support, product trials, customer care, local expertise, and faster response times, and ensuring better outcomes especially for those in early adoption of our solutions.”
Lloyd is a CA Technologies veteran. She joined Broadcom when Broadcom acquired CA Technologies in 2018.
Can Broadcom and its CSAP distribution partners re-energize the classic Symantec partner base? We’ll be watching.