Merger Mania Moves to Software as Symantec Buys Veritas
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Merger mania found its way back into the software space today, asvsecurity firm Symantec said it would pay US$13.5 billion to acquire Veritas Software.
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While thousands of Veritas software users may be experiencing slow license renewals due to Symantec's new online licensing portal, the security software company's CIO said the wait is worth it compared with using pirated software.
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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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Symantec, which produces the Norton line of computer products, is in talks to acquire Veritas Software, a maker of data backup programs.
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Symantec (SYMC:Nasdaq - news - research) Thursday said it will acquire rival software company Veritas Software (VRTS:Nasdaq - news - research)in an all-stock deal.
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Underscoring the convergence of security and storage software technology, Symantec Corp. and Veritas Software Corp. confirmed rumors when they announced Thursday that Symantec had agreed to acquire Veritas
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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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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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Computer security giant Symantec Corp. is buying storage and backup program maker Veritas Software Corp. in a &#36;13.5 billion deal that will create the world's fourth largest software company.
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DECEMBER 16, 2004 (IDG NEWS SERVICE) - Security company Symantec Corp.&#39;s acquisition of Veritas Software Corp. could benefit customers and shareholders of both companies, but details of the $13.5 billion deal
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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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Updated from 12:51 pm ESTWithin hours of the announcement that antivirus maker Symantec (SYMC:Nasdaq) and software storage vendor Veritas (VRTS:Nasdaq) would merge, skeptical investors shaved about a billion dollars off the value of the all-stock deal.
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Adding a big piece to its utility computing jigsaw puzzle, Veritas Software (Quote, Chart) rewrote its OpForce server provisioning software to include application discovery and configuration.
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Veritas Software Corp. (VRTS.O: Quote, Profile, Research) , the largest independent US storage software provider, will buy e-mail backup company KVault Software Ltd.
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Deal will combine Symantec&#39;s security products with Veritas&#39; storage software, resulting in reach from PCs to data centers.
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Veritas Software Corp. VRTS.O  shares jumped 9 percent on Tuesday on a report that security  software company Symantec Corp. SYMC.O would acquire it for  $13 billion.
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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.