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Shareholders Approve Symantec-Veritas Merger
Large Majority Approves Sale

The $10.5 billion acquisition of storage software company Veritas by security software company Symantec moved closer to completion, with word that shareholders of both companies have approved the deal. Symantec will become the world's fourth largest software company upon the merger's completion.

It appears that about two-thirds of Symantec shares voted in favor of the deal, with more than 90% of Veritas shares doing the same. Both companies have lost about 20% of their respective market values this year.

Symantec is perhaps most popularly known for its Norton series of personal computer products, but the company has actually focused on enterprise security in recent years. A group of products carrying the Symantec name addressing integrated security, security management, vulnerability management, compliance, intrusion protection, firewalls and VPNs, and content protection form the core of the company's business today. Veritas focuses on the range of challenges facing enterprise IT storage managers.

Symantec CEO John Thompson (pictured above) has said the merger will transform Symantec from its specialized security niche into a major player in the global software arena. ``We will be able to solve some of those problems for some of the largest companies in the world,'' he has said.  The Veritas name will disappear in the new company, which will simply keep the Symantec name.



Symantec and Veritas Stock Price Change and Volume Over the Past Six  Months




Symantec is perhaps most popularly known for its Norton series of personal computer products, but the company has actually focused on enterprise security in recent years. A group of products carrying the Symantec name addressing integrated security, security management, vulnerability management, compliance, intrusion protection, firewalls and VPNs, and content protection form the core of the company's business today. Veritas focuses on the range of challenges facing enterprise IT storage managers.

Symantec CEO John Thompson (pictured above) has said the merger will transform Symantec from its specialized security niche into a major player in the global software arena. ``We will be able to solve some of those problems for some of the largest companies in the world,'' he has said.  The Veritas name will disappear in the new company, which will simply keep the Symantec name.



Symantec and Veritas Stock Price Change and Volume Over the Past Six  Months




About Security News Desk
SYS-CON's Security News desk trawls the world of security for news of software, hardware, products, and services that seems likely to be of interest to infosec professionals and summarizes them for easy assimilation by busy IT managers and staff.

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Shareholders Approve Symantec-Veritas Merger. The $10.5 billion acquisition of storage software company Veritas by security software company Symantec moved closer to completion, with word that shareholders of both companies have approved the deal. Symantec will become the world's fourth largest software company upon the merger's completion.

It appears that about two-thirds of Symantec shares voted in favor of the deal, with more than 90% of Veritas shares doing the same. Both companies have lost about 20% of their respective market values this year.

Symantec is perhaps most popularly known for its Norton series of personal computer products, but the company has actually focused on enterprise security in recent years. A group of products carrying the Symantec name addressing integrated security, security management, vulnerability management, compliance, intrusion protection, firewalls and VPNs, and content protection form the core of the company's business today. Veritas focuses on the range of challenges facing enterprise IT storage managers.

Symantec CEO John Thompson has said the merger will transform Symantec from its specialized security niche into a major player in the global software arena. ``We will be able to solve some of those problems for some of the largest companies in the world,'' he has said. The Veritas name will disappear in the new company, which will simply keep the Symantec name.




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