Symantec shares skid on deal
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SAN FRANCISCO Symantec, the computer security giant, reached final agreement Thursday to take over the storage and backup program maker Veritas Software, making Symantec the No.4 independent software company in the world.
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Computer security giant Symantec said Thursday it will buy storage program maker Veritas Software for US$13.5 billion in one of the world&#39;s largest software company mergers.
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Veritas Software Corp. shares rose as much as 13 percent after the New York Times said Symantec Corp. is in talks to buy the company for more than $13 billion, in what would be the second-biggest deal ever in the software industry.
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Thanks to a decline in Microsoft shares, the stock portion of the company's offer has dropped. That means that as of now Microsoft is offering less than it was four days ago. To match its original $31 per share offer, Microsoft would have to boost the exc
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It may be too early to tell, but some Symantec partners have already begun to express concern.
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(InfoWorld) - More than a month after Symantec Corp. knocked out 50,000 Chinese PCs with a bad software update, the company is ready to offer compensation. But Chinese users eligible for the offer have to act fast; it's only good for a couple of weeks. Symantec's problems in China began on May 18, whenÂ it released a bad software update that caused its Norton antivirus software to wrongly identify two system files in the Simplified Chinese version of Windows XP as malware and quarantine them. That mistake, which Symantec blamed on "an automated process," left tens of thousands of PCs crippled and Internet bulletin boards full of angry posts. Chinese users who lost data because of Symantec's faulty update demanded compensation, and at least two lawsuits were filed against the company. But Symantec was slow to respond, saying earlier this month it was considering requests for compensation. After five weeks, Symantec is ready to make amends. The company is offering affected Chinese consumers a 12-month Norton license extension and a copy of Norton Save & Restore 2.0. Corporate customers are being offered Symantec Ghost Solution Suite licenses, depending on the number of PCs affected. Symantec is not offering to extend Norton licenses for corporate customers affected by the bad update. Symantec described its offer as "a gesture of our goodwill." Chinese users will have to move fast if they want to take Symantec up on the deal. The company is only accepting applications for compensation during a brief window of time: from June 27 to July 15. The company didn't say why the period is so short, but said it was a sufficient span of time. "We are offering more than two weeks for the registration period which we believe is a reasonable period of time for customers to register," said Catriona Turner, a Symantec spokeswoman in Australia, in an e-mail response to questions. "If there are legitimate reasons why a particular customer is unable to register by July 15, we will give consideration to extending the date for that customer." Turner said the terms and conditions of the compensation offer did not require users to forego the right to legal action over damage caused to their systems by Symantec's update. "We hope that our customers will recognize that we are offering this goodwill gesture in recognition of any inconvenience caused by this incident," she said. Users who want to take Symantec up on its offer must apply at a special Web site , which will validate their copies of Norton Antivirus to make sure they are licensed copies and eligible for the offer. "Customers will be asked to complete a series of questions during the validation process to help us ascertain that the customer was genuinely impacted," Turner said. Â
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Inspired by Cisco and Microsoft Symantec and Juniper Networks have struck back against rivals Microsoft and Cisco with an astonishingly vague, sweeping partnership of their own.â¦
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Within hours of the announcement that antivirus maker Symantec (SYMC:Nasdaq - news - research) and software storage vendor Veritas (VRTS:Nasdaq - news - research) would merge, skeptical investors shaved about a billion dollars off the value of the all
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A tremendous amount of confusion has arisen in recent days over whether security firm Symantec actually discovered a new vulnerability in Microsoft Word three days ago, or simply uncovered a new exploit of an existing problem that Microsoft already acknowledged. In what appears to be an effort at backtracking, Symantec today appears to be saying both simultaneously.
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Norton Antivirus software maker Symantec merges with Veritas Software in an all-shares deal valued at more than $13bn.
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InfoWorld - More than a month after Symantec Corp. knocked out 50,000 Chinese PCs with a bad software update, the company is ready to offer compensation. But Chinese users eligible for the offer have to act fast; it&#39;s only good for a couple of weeks.
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NEW YORK/SAN FRANCISCO  - Symantec Corp. SYMC.O,  the top global security software maker, on Thursday said it  will buy Veritas Software Corp. VRTS.O for $13.5 billion,  expanding into the data storage and recovery business.
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Norton Antivirus software maker Symantec merges with Veritas Software in a $13bn deal.
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Computer security giant Symantec Corp. is buying storage and backup program maker Veritas Software Corp. in a $13.5 billion deal that will create the world&#39;s fourth largest software company.
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Symantec plans to integrate @Stake's services and applications into its global professional services offerings, but offered no details on the acquisition.
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Security software vendor Symantec (Nasdaq: SYMC) is negotiating to buy Veritas Software (Nasdaq: VRTS), a provider of data storage software, for more than US&#36;13 billion, according to press reports.
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Symantec Corp., the world&#39;s largest maker of antivirus software, agreed to acquire closely held consultant At Stake Inc., which identifies programming faults in software, for an undisclosed sum.