Report: Symantec in talks to acquire Veritas Software
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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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September 1, 2004 -- (WEB HOST INDUSTRY REVIEW) -- Storage software company Veritas  announced on Tuesday that it has entered into an agreement to acquire email backup company Kvault Software for $225 million in cash, according to a report by
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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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According to a report in the New York Times this morning, Symantec Corp. (Nasdaq: SYMC - message board) is on the verge of completing negotiations to purchase Veritas.
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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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Symantec&#39;s takeover of Veritas could transform the firm into a &quot;disruptive influence&quot; in the software market, but risks failure if it does not manage to integrate product lines.
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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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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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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 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.
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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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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.
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Anti-virus protection is so last century Symantec's integration with Veritas in the UK has run into computer problems, leaving many Symantec customers unable to renew their corporate anti-virus licenses and large numbers of computers unprotected.â¦
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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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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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Anti-virus specialist Symantec (Quote, Chart) late Thursday announced a deal to acquire privately held security consulting firm @Stake.
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Shares of Veritas Software (VRTS) surged 9% Tuesday on reports that computer-security giant Symantec (SYMC) is in talks to buy the maker of data-storage and backup