Symantec Will Buy Veritas for $13.5 Billion in Stock
87294
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.
90089
Symantec Corp.'s reported interest in acquiring Veritas Software Corp. for more than $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.
497378
Symantec, a maker of computer antivirus products, will buy Altiris for about $1.03 billion to gain programs that track corporate software use.
41543
(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.
749207
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.
210864
French oil and gas field surveyor Geophysique will buy U.S. rival Veritas for $3.1 billion in cash and stock, both companies announced Tuesday, establishing a major new global player in the booming oil exploration industry.
731921
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.
126294
Security software maker Symantec Corp. has agreed to buy Veritas Software Corp. for $13.5 billion, expanding into the backup and recovery software market, the companies said on Thursday.
649258
Not long after Oracle has bought Peoplesoft, it looks like another big corporate buy out is on the way. Symantec is negotiating to buy storage software vendor Veritas
565052
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.
743181
Veritas Capital, a private equity firm based in New York, agreed to buy Computer Sciences Corp.&#39;s DynCorp International LLC unit for $850 million.
277114
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.
274699
Deal will combine Symantec&#39;s security products with Veritas&#39; storage software, resulting in reach from PCs to data centers.
90348
Symantec (SYMC:Nasdaq - news - research) Thursday said it will acquire rival software company Veritas Software (VRTS:Nasdaq - news - research)in an all-stock deal.
345651
Veritas, now owned by Symantec, will pay $30 million to the SEC to settle accounting charges.
205800
Norton Antivirus software maker Symantec merges with Veritas Software in a $13bn deal.
11821
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.