Digital Edition

SYS-CON.TV
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.

In order to post a comment you need to be registered and logged in.

Register | Sign-in

Reader Feedback: Page 1 of 1

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.




ADS BY GOOGLE
Subscribe to the World's Most Powerful Newsletters

ADS BY GOOGLE

ChatOps is an emerging topic that has led to the wide availability of integrations between group cha...
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting ch...
As Marc Andreessen says software is eating the world. Everything is rapidly moving toward being soft...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know ...
Is advanced scheduling in Kubernetes achievable?Yes, however, how do you properly accommodate every ...
The cloud era has reached the stage where it is no longer a question of whether a company should mig...
The need for greater agility and scalability necessitated the digital transformation in the form of ...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an over...
Coca-Cola’s Google powered digital signage system lays the groundwork for a more valuable connection...
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, provided a fun and ...
While some developers care passionately about how data centers and clouds are architected, for most,...
"Since we launched LinuxONE we learned a lot from our customers. More than anything what they respon...
DevOps is under attack because developers don’t want to mess with infrastructure. They will happily ...
"As we've gone out into the public cloud we've seen that over time we may have lost a few things - w...
In his session at 21st Cloud Expo, Michael Burley, a Senior Business Development Executive in IT Ser...
Sanjeev Sharma Joins June 5-7, 2018 @DevOpsSummit at @Cloud Expo New York Faculty. Sanjeev Sharma is...
We are given a desktop platform with Java 8 or Java 9 installed and seek to find a way to deploy hig...
"I focus on what we are calling CAST Highlight, which is our SaaS application portfolio analysis too...
"Cloud4U builds software services that help people build DevOps platforms for cloud-based software a...
The question before companies today is not whether to become intelligent, it’s a question of how and...