Symantec in $13bn Veritas merger
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Global security software maker Symantec is to take over Veritas Software in a merger deal valued at $13.5bn (Â£7bn). The all-share deal will see Symantec swap 1.1242 shares of common stock for each Veritas share.
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Symantec is close to sealing a deal worth about $13bn to acquire Veritas in one of the largest ever mergers between two software companies.
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Symantec, a leader in security software, will acquire Veritas, a maker of data storage programs, to create the world's fourth-largest software company.
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Symantec Corp. will buy Veritas Software Corp. in an all-stock transaction, the companies announced Thursday. Based on Wednesday&#39;s closing stock prices, the deal values Veritas at around US$13.5 billion, they said.
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Symantec (SYMC:Nasdaq - news - research) Thursday said it will acquire rival software company Veritas Software (VRTS:Nasdaq - news - research)in an all-stock deal.
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The $13.5 billion merger of Symantec and Veritas Software, officially unveiled Thursday, stands to create the world&#39;s fourth-largest software company.
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Underlining the importance of message archiving software, Veritas Software Corp. has announced plans for a $224 million cash acquisition of KVS Software Ltd.
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Symantec Corp.'s reported interest in acquiring Veritas Software Corp. for more than &#36;13 billion would represent the computer security giant's biggest step yet beyond its core businesses of defending against viruses and thwarting hackers. Investors weren't impressed, though, and Symantec's shares plunged 16 percent.
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InfoWorld - Two years after itsÂ acquisition of enterprise software vendor Veritas, Symantec's consumer division remains the company's fastest-growing product line.
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NEW YORK, December 16  - Security software developer Symantec (SYMC.NAS) announced today its decision to acquire storage service provider Veritas Software in a $13.5 billion deal.
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Meanwhile, back in the data centre... Symantec announced today it would cough up $830m for infrastructure management software firm Altiris.â¦
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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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The $830 million deal aims to bolster Symantec's end-point offerings for mobile devices, laptops, desktops and servers.
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NEW YORK/SAN FRANCISCO  - Symantec Corp. SYMC.O,  a maker of security software, on Thursday said it would buy  storage software maker Veritas Software Corp. VRTS.O for  $13.5 billion, creating the world's fourth-largest software  company.
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Security software maker Symantec Corp.  has agreed to buy Veritas Software Corp. for $13.5 billion,  expanding into the backup and recovery software market, the  companies said on Thursday.
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Precise set free for a fee Five years and thousands of broken dreams ago, Veritas ate application performance management software maker Precise for $609m. And now Symantec is offloading the pricey baggage.â¦