Symantec agrees to buy Veritas for $13.5 billion
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Symantec Corp. said Thursday it has agreed to buy Veritas Software Corp. for $13.5 billion in the second major Silicon Valley software merger in four days.
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Storage and backup application vendor Veritas Software Corp. said today that it is acquiring e-mail archiving vendor KVault Software Ltd. in a deal expected to wrap up next month.
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(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.
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Symantec Corp. (SYMC), the top global security software maker, on Thursday said it will buy Veritas Software Corp. (VRTS) for $13.5 billion, expanding
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The New York Times reports Symantec is seeking to buy storage software maker Veritas.
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A week after the mega-deal between security and management software merger between Symantec Corp. and Veritas Software Corp., EMC Corp.
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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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Symantec Corp has paid a $30m penalty to the US Securities and Exchange Commission to settle a charge relating to a dodgy deal between America Online and Veritas Software, which it acquired in 2005.
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Veritas, now owned by Symantec, will pay $30 million to the SEC to settle accounting charges.
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Symantec Corp. on Thursday announced that is acquiring @stake Inc., perhaps the most well-known security consulting firm in the industry, for an undisclosed sum.
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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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Security software vendor Symantec (Nasdaq: SYMC) is negotiating to buy Veritas Software (Nasdaq: VRTS), a provider of data storage software, for more than US&#36;13 billion, according to press reports.
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InfoWorld - Two years after itsÂ acquisition of enterprise software vendor Veritas, Symantec's consumer division remains the company's fastest-growing product line.
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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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Symantec's reported interest in purchasing Veritas for $13 billion is in keeping with the company's expansion plans, analysts say.
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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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SAN FRANCISCO Symantec, the computer security giant, reached final agreement Thursday to take over the storage and backup program maker Veritas Software, making Symantec the No.4 independent software company in the world.