Symantec Cybersecurity Solutions Assessed to Combat Ransomware and Emerging Threats for Australian Government Entities

Rhea-AI Summary

Broadcom announced that its Symantec cybersecurity solutions have successfully completed the Information Security Registered Assessors Program (IRAP) assessment administered by the Australian Cyber Security Centre (ACSC). This evaluation confirms that Symantec Endpoint Security, Symantec Network Protection, and Symantec Data Loss Prevention (DLP) Cloud solutions meet stringent security standards required by Australian government entities. IRAP evaluated the robustness, compliance, and effectiveness of these solutions in protecting critical and sensitive information. The achievement ensures that Broadcom’s security solutions are suitable for combating ransomware and other emerging threats, particularly those targeting government agencies and critical infrastructure.

Positive

• Symantec cybersecurity solutions completed IRAP assessment.
• Symantec Endpoint Security, Network Protection, and DLP Cloud meet Australian government security standards.

Negative

• None.

Insights

Cybersecurity Analyst

The completion of the IRAP assessment for Symantec's cybersecurity solutions is a significant milestone. This certification endorses that Symantec Endpoint Security, Network Protection and DLP Cloud meet stringent security standards imposed by the Australian government. This endorsement is particularly impactful given the rising threat of ransomware and cyberattacks, such as those from the LockBit ransomware group.

From an investor's perspective, this assessment strengthens Symantec's market position in the public sector cybersecurity space, especially in Australia. It implies potential new contracts or extensions of existing ones with government entities seeking robust security solutions. Moreover, it sets a precedent that may influence other governments or large organizations to consider Symantec's offerings, given their proven compliance with high-security benchmarks.

Short-term, investors could anticipate a positive market reaction due to the enhanced reputation and potential immediate interest from governmental contracts. Long-term, the benefits could include sustained revenue growth from the public sector, increased trust and scalability of Symantec's solutions in other regions requiring similar security standards.

It's worth noting the challenge of continuously maintaining these high standards amidst evolving cybersecurity threats. However, successfully doing so will cement Symantec's standing as a reliable player in the cybersecurity industry.

Market Research Analyst

This IRAP certification for Symantec's suite of cybersecurity solutions is not just a technical endorsement but also a strategic market differentiator. In the competitive landscape of cybersecurity, where numerous companies vie for public sector contracts, having a certification from a reputable body like the Australian Cyber Security Centre (ACSC) can set a company apart.

For the Australian market, this certification may lead to increased market penetration for Broadcom's Symantec products. Government agencies and critical infrastructure sectors are likely to prioritize vendors who have demonstrated compliance with rigorous security standards. This aligns with the broader industry trend where compliance and certification are increasingly critical in vendor selection processes.

Furthermore, the certification could serve as a marketing leverage in other regions, showcasing Symantec's commitment to superior security. However, the company must ensure they capitalize on this momentum by securing contracts and delivering on the promise of their certified solutions.

Future potential includes expanded market share and stronger brand equity globally. Investors should watch for follow-up news on contract awards and partnerships stemming from this certification, which could signal sustained demand and revenue growth.

Broadcom Achieves Stringent IRAP Assessment for Symantec Cybersecurity Solutions

PALO ALTO, Calif., June 18, 2024 (GLOBE NEWSWIRE) -- Broadcom Inc. (NASDAQ: AVGO) today announced that Symantec Endpoint Security, Symantec Network Protection and Symantec DLP Cloud solutions have completed the Information Security Registered Assessors Program (IRAP) assessment. Administered by the Australian Cyber Security Centre (ACSC), the IRAP assessment is a comprehensive evaluation process designed to ensure that technology providers meet the highest security and integrity protocols in line with the Australian government’s information security standards.

Ransomware and other cyberattacks are on the rise. In fact, the Australian Cyber Security Centre recently issued an advisory about the LockBit ransomware group. To reduce their risk, organizations increasingly are seeking to implement solutions that meet tough security industry standard requirements. IRAP evaluated the “robustness, compliance and effectiveness” of three core Symantec security solutions and their suitability for protecting critical and sensitive information within the public sector. The assessment conclusively determined that the following Symantec solutions meet the stringent security standards required by Australian government entities:

• Symantec Endpoint Security: Comprehensive protection for traditional and mobile devices across the entire attack chain. Symantec endpoint innovations include behavioral isolation, Active Directory security, and Threat Hunter technologies to protect endpoints against sophisticated threats and targeted attacks.
  
• Symantec Network Protection: A complete Security Service Edge solution for securing all network, web, and cloud applications with an industry-leading set of services deployed in a world-class edge network. Built upon a cloud-native architecture with an advanced secure web gateway and CASB controls, rich security capabilities are extended to web, public, and private cloud applications.
  
• Symantec Data Loss Prevention (DLP) Cloud: A single control point from which security teams can configure DLP policies that secure SaaS apps, control access to web destinations, and identify shadow IT. Symantec DLP Cloud combines industry-leading enterprise Data Loss Prevention and Symantec CloudSOC CASB to provide deeper visibility of user activity across thousands of cloud apps, email, and the web, including shadow IT and continuous monitoring and protection of sensitive data from a potential breach.
  

“Stealthy, persistent attacks targeting Australian government agencies and other critical infrastructure are both costly and extremely disruptive. With the successful IRAP assessments of Symantec Endpoint Security, Symantec Network Protection and Symantec DLP Cloud, security practitioners and other key stakeholders can be assured that the most rigorous protection standards have been met to secure their most important data and assets,” said Rob Greer, vice president and general manager of the Enterprise Security Group at Broadcom. “We are excited about this achievement.”

For more information on Broadcom’s cybersecurity portfolio, click here.

About Broadcom
Broadcom Inc. (NASDAQ: AVGO) is a global technology leader that designs, develops, and supplies a broad range of semiconductor, enterprise software and security solutions. Broadcom's category-leading product portfolio serves critical markets including cloud, data center, networking, broadband, wireless, storage, industrial, and enterprise software. Our solutions include service provider and enterprise networking and storage, mobile device and broadband connectivity, mainframe, cybersecurity, and private and hybrid cloud infrastructure. Broadcom is a Delaware corporation headquartered in Palo Alto, CA. For more information, go to www.broadcom.com.

Broadcom, the pulse logo, and Connecting Everything are among the trademarks of Broadcom. The term "Broadcom" refers to Broadcom Inc., and/or its subsidiaries. Other trademarks are the property of their respective owners.

Press Contact:
Dan Mellinger
Enterprise Security Group Communications
press.relations@broadcom.com
Telephone: +1 415 572 0216

FAQ

What is the significance of Broadcom's IRAP assessment for AVGO?

The IRAP assessment confirms that Broadcom's Symantec cybersecurity solutions meet stringent Australian government security standards, enhancing their credibility and suitability for protecting critical information.

Which Symantec solutions passed the IRAP assessment announced on June 18, 2024?

Symantec Endpoint Security, Symantec Network Protection, and Symantec Data Loss Prevention (DLP) Cloud solutions passed the IRAP assessment.

How do Symantec solutions help combat ransomware for the Australian government?

Symantec solutions provide comprehensive protection across the attack chain, secure network and cloud applications, and prevent data loss, meeting high security standards to combat ransomware threats.

What technologies are included in Symantec Endpoint Security?

Symantec Endpoint Security includes behavioral isolation, Active Directory security, and Threat Hunter technologies to protect against sophisticated threats and targeted attacks.

Why is the IRAP assessment important for Broadcom's Symantec solutions?

The IRAP assessment is important as it ensures that Symantec solutions comply with rigorous security protocols, making them reliable for securing critical data in Australian government entities and reducing risks of cyberattacks.