Symantec may buy Veritas

By Derek Sooman on December 15, 2004, 10:42 AM
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 Software, in a deal that is estimated to be worth more than $13 billion.

Veritas should be well known to the SAs among us as a company that sells archiving, file system, and backup software. They have a long history of operating in this market. Veritas reported revenue of $1.75 billion for the year to December 31, 2003 and $497 million for the quarter to September 30. Buying Veritas would allow Symantec to extend protection of corporate information systems to the data they contain.

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