Report: Symantec May Buy Veritas
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Antivirus vendor may pay $13 billion for the storage software company.
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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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Updated from 12:51 pm ESTWithin hours of the announcement that antivirus maker Symantec (SYMC:Nasdaq) and software storage vendor Veritas (VRTS:Nasdaq) would merge, skeptical investors shaved about a billion dollars off the value of the all-stock deal.
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Standard &amp; Poor&#39;s Ratings Services said on Thursday it may boost the ratings of Veritas Software Corp. after the firm announced a merger with Symantec Corp.
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Norton Antivirus software maker Symantec merges with Veritas Software in a $13bn deal.
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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/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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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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Symantec, the leading maker of computer security software, will buy Veritas for about $13.5 billion, creating the world's fourth-largest software company.
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Computer security giant Symantec has agreed to buy storage and backup program maker Veritas Software to create the world's fourth largest software company. The all-stock acquisition was initially valued at &#36;13.5 billion, but the price quickly plummeted after investors weighed in on the merger.
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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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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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When solution providers look back on Symantec&#39;s acquisition of Veritas Software, they will likely remember it as the moment security and storage officially became joined at the hip.
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Symantec has hired PricewaterhouseCoopers to help it integrate recently-acquired Veritas.
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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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In a long-rumored move, security software maker Symantec said Thursday that it will buy storage specialist Veritas Software in a deal worth roughly $13.5 billion.
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(InfoWorld) - Veritas Software has agreed to pay $30 million to the U.S. Securities and Exchange Commission (SEC) to settle charges that it engaged in fraudulent accounting practices and aided Time Warner's America Online (AOL) in committing fraud. Veritas, whichÂ Symantec purchasedÂ on July 2, 2005, agreed to pay the fine "without admitting or denying the allegations," according to an SEC filing this week. The allegations were contained in a complaint with the U.S. District Court in the District of Columbia. A spokeswoman from a Symantec public relations agency confirmed the fine Friday and said the funds had already been set aside in reserve as part of Symantec's acquisition of Veritas. Symantec itself was not named in the SEC complaint, she noted. Company officials were not immediately available for further comment. The fine stems from an inquiry opened four years ago into a secret deal between Veritas and AOL. That deal involved the exchange of software licenses and advertising, and raised each company's revenue by $20 million. Both companies subsequently restated revenue numbers to erase the gains from the deal. Even as it settles its beef with the SEC, Symantec's Veritas is still embroiled in a battle with another government agency, the U.S. Internal Revenue Service (IRS). The IRS is seeking more than $757 million in back taxes the agency claims Veritas owes, as well as $303 million in penalties. Symantec is disputing the charges.