Symantec Corp. aims to double sales by 2010

Symantec Corp, world’s largest security software developer targets to double its annual sales to $10 billion by 2010.

Symantec, which turns over about US$5 billion and is the fourth largest software company in the world, is definitely in the big league. However, it aims at getting even bigger.

``We'll still maintain our position of being the fourth-biggest independent software company in the world or, if we're lucky, move up a step or two," says John Thompson, CEO Symantec Corp.

The executive added that services should also make a positive contribution to profits. He expects 10 percent of revenues to be coming from the services.

He also added that Symantec, the world's largest maker of security software, was interested in further, medium-size acquisitions after buying storage software maker Veritas for $10.3 billion last year.

"Buying technologies is one thing, but buying real businesses is another because you are forced to pay attention to them," Thompson said. "If they are $75-$100 million in sales that's real money - that gives us leverage."

Symantec, the maker of Norton anti-virus software, wants to buy companies with cash flow ``of some reasonable scale,'' Thompson said today at the Etre technology conference in Barcelona.

Symantec has been on an acquiring spree and has bought `25 to 30 companies' since Thompson became CEO seven years ago.

Jupiter Research analyst Joe Wilcox informs that one key driver for Symantec will simply be demand for security products as software vulnerabilities continue to proliferate. Hackers turning from network penetration to applications would lead to a major part of Symantec's business -- sales at the company will naturally increase.

Thompson knows that if Microsoft is successful in elevating security systems in Vista to cut Symantec out of the Windows security market, then Symantec can forget about being a US$10 billion company. It will have trouble staying a US$5 billion company.

He called on Microsoft not to force its customers to use Microsoft's own security software - in place of others like Symantec - when it releases its new Windows operating system, called Vista, which is slated for release later this year.

Thompson said he wants to compete with Microsoft as long as it doesn't use ``unfair'' tactics.