Symantec may buy Veritas

By Derek Sooman on
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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