More questions than answers in Symantec/Veritas deal
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DECEMBER 16, 2004 (IDG NEWS SERVICE) - Security company Symantec Corp.&#39;s acquisition of Veritas Software Corp. could benefit customers and shareholders of both companies, but details of the $13.5 billion deal
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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.
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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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While thousands of Veritas software users may be experiencing slow license renewals due to Symantec's new online licensing portal, the security software company's CIO said the wait is worth it compared with using pirated software.
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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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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¦
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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's reported interest in purchasing Veritas for $13 billion is in keeping with the company's expansion plans, analysts say.
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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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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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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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InfoWorld - It may have taken enterprise customers years to get proper security tools in place to defend their PCs, but if large businesses drag their feet in aligning the applications necessary to protect their smartphones, they will pay a heavy price, says Symantec.
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Symantec Corp., the top global security software maker, on Thursday said it will buy data management software company Veritas Software Corp.
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Symantec Corp. said Thursday it has agreed to buy Veritas Software Corp. for $13.5 billion in the second major Silicon Valley software merger in four days.
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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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LIVE WEBCASTAre you considering moving to a disk-to-disk backup and recovery solution for your multi-vendor storage environment? Join this live Webcast on October 12th with NetApp and Symantec and learn how integrating VERITAS&reg; NetBackup&trade;'s robust management capability with the powerful NetApp disk backup offerings can simplify your move to disk-to-disk backup in a multi-vendor storage environment.
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SAN JOSE, Calif. - 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 businesses