Symantec Will Buy Veritas for $13.5 Billion in Stock
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Symantec Corp., the world&#39;s largest maker of anti-virus programs for computers, agreed to buy Veritas Software Corp. for $13.5 billion, the biggest software purchase in six years.
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Private equity firm Veritas said on Sunday it agreed to acquired DynCorp International LLC, which provides aviation maintenance, personal security and training for law enforcement agencies and the US government, for $850 million.
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Symantec Corp., security software company famous for its Norton anti-virus software, has signed an agreement to buy Veritas Software Corp.
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Looking for a cloud in Symantec&#39;s latest silver lining, competitors are hoping the company&#39;s acquisition of storage software maker Veritas will be a stumbling block for the security firm.
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Security software company Symantec is negotiating to buy storage software vendor Veritas Software for more than $13 billion, according to a report published Tuesday by The New York Times.
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Oil and gas field surveyor Geophysique will buy U.S. rival Veritas for $3.1 billion in cash and stock, the companies announced Tuesday, establishing a major new global player in the booming oil exploration industry.
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Computer security giant Symantec Corp. has agreed to buy the storage and backup program maker Veritas Software Corp. for about $13.5 billion in stock in a deal that would create a massive software company that provides a wide range of programs to secure and protect networks and computers.
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Security software maker Symantec Corp. has agreed to buy Veritas Software Corp. for &#36;13.5 billion, expanding into the backup and recovery software market, the companies said on Thursday.
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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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According to a report in the New York Times this morning, Symantec Corp. (Nasdaq: SYMC - message board) is on the verge of completing negotiations to purchase Veritas.
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The sudden avalanche of technology deals is gathering momentum. Symantec&#39;s talks with software group Veritas come hot of the heels of IBM&#39;s sale of its PC business to Lenovo and Oracle&#39;s acquisition of PeopleSoft.
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Two years after its&#160;acquisition of enterprise software vendor Veritas, Symantec&#39;s consumer division remains the company&#39;s fastest-growing product line.Consumer business grew by about 10 percent year-over-year and represents about 30 percent of Symantec&#39;s overall business, the company said Wednesday, as it announced financial results for its second quarter of fiscal 2008, ended Sept. 28.Excluding an $87 million write-down of assets, revenue was $1.44 billion for the quarter, up 13 percent from the year-ago period. Quarterly earnings were $0.29 per share. Analysts had been expecting earnings of $0.26 per share on $1.39 billion in revenue, according to estimates compiled by Thomson Financial.Symantec&#39;s consumer business got a boost from the introduction of the much-anticipated Norton 360 software, released in late February.The company&#39;s Windows-based backup products, which include Backup Exec, also posted strong results the company said in a statement .On the enterprise side, the company&#39;s security and data management products, including the Veritas software, grew by 7 percent. These products now account for 30 percent of the company&#39;s revenue.Symantec&#39;s much smaller services business -- totaling 6 percent of revenue -- grew by 30 percent.
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Symantec Corp., the world&#39;s largest maker of anti-virus programs for computers, agreed to buy Veritas Software Corp. for $13.5 billion in stock, the biggest software purchase in six years.
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Veritas Software Corp. (VRTS.O: Quote, Profile, Research) , the largest independent US storage software provider, will buy e-mail backup company KVault Software Ltd.
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Norton Antivirus software maker Symantec merges with Veritas Software in a $13bn deal.
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Symantec has hired PricewaterhouseCoopers to help it integrate recently-acquired Veritas.
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THE DEAL: Symantec Corp., best known for its Norton-branded software that fights computer viruses, is heading in a new direction with a $13.5 billion acquisition of data storage and backup specialist Veritas Software Corp.