Symantec And Veritas To Merge
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With aftershocks still fresh from the Oracle-PeopleSoft deal, another buyout has rocked the enterprise market - Symantec&#39;s multi-billion dollar buyout of Veritas.
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Veritas Software Corp. , the leading storage software provider, said on Tuesday it agreed to acquire email backup company KVault 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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Ending days of speculation, security technology company Symantec Corp. said Thursday, Dec. 16, it will buy Veritas Software Corp., a provider of storage technology, for $13.5 billion in stock.
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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.
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NEW YORK/SAN FRANCISCO  - Symantec Corp. SYMC.O,  the top global security software maker, on Thursday said it  will buy data management software company Veritas Software  Corp. VRTS.O for $13.5 billion, expanding into the data  storage and recovery business.
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Symantec Corp. unveiled plans to develop a common set of services to serve as a foundation for its Veritas storage management software.
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Veritas Software Corp. VRTS.O  shares jumped 9 percent on Tuesday on a report that security  software company Symantec Corp. SYMC.O would acquire it for  $13 billion.
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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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SAN FRANCISCO: Computer security giant Symantec is buying storage and backup program maker Veritas Software in a $13.5 billion deal that will create the world&#39;s fourth largest software company.
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Deal will combine Symantec&#39;s security products with Veritas&#39; storage software, resulting in reach from PCs to data centers.
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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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Symantec Corp.&#39;s reported interest in acquiring Veritas Software Corp. for more than $13 billion would represent the computer security giant&#39;s biggest step yet beyond its core
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Even after the Veritas backup acquisition, Symantec's consumer division remains the company's fastest growing product line. Symantec Chairman and CEO John Thompson said the company's North American business had missed expectations and he offered cautious guidance for the next three months.
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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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Veritas Software on Monday will announce a new version of its OpForce provisioning software designed to make it easier for administrators to install and manage applications, as well as operating systems, on servers.
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Computer security giant Symantec Corp. is buying storage and backup program maker Veritas Software Corp. to create the world&#39;s fourth largest software company.