Wednesday, August 12, 2015

Symantec to Sell Data Storage Unit Veritas for $8 Billion | Re/code

Also see Tech Breakups Show Bigger Is Not Necessarily Better (NYT)

"“Now they really get a new lease on life in terms of focusing on their core security DNA as the Veritas storage piece has been a massive black cloud on the Symantec story for a decade,” FBR Capital Markets analyst Daniel Ives said on Tuesday.

Symantec, which bought Veritas for $13.5 billion in 2005, said it expected about $6.3 billion in net cash proceeds from the sale.

Revenue from Symantec’s consumer security business fell 19 percent in the first quarter, while revenue from its enterprise security business dropped 13 percent."
Symantec to Sell Data Storage Unit Veritas for $8 Billion | Re/code
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