Symantec, Veritas boards approve $13.5 bn merger
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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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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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Symantec&#39;s acquisition of Veritas has the potential to benefit customers and shareholders of both companies, but details of the deal leave some important questions unanswered, according to executives and industry experts.
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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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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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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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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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Veritas Software Corp. shares rose as much as 13 percent after the New York Times said Symantec Corp. is in talks to buy the company for more than $13 billion, in what would be the second-biggest deal ever in the software industry.
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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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SYMANTEC&#39;S reported interest in acquiring Veritas Software for more than $US13 billion ($17 billion) would represent the computer security giant&#39;s biggest step yet beyond its core businesses.
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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
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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 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.
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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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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 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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Symantec&#39;s planned acquisition of Veritas Software is already changing the security game, even though the deal remained unconfirmed by either party as of late Wednesday afternoon.