Veritas Technologies

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Veritas Technologies LLC
Private
Industry software industry
Founded January 29, 2016; 15 months ago (2016-01-29)
Headquarters Mountain View, California, U.S.
Key people
Bill Coleman, CEO
Products Data security, back-up and recovery such as Disaster Recovery Orchestrator,[1] Veritas Infoscale, data management such as HyperScale for OpenStack[2]
Owner The Carlyle Group
Website www.veritas.com

Veritas Technologies LLC is an American international data management company that was formed in 2016 by the demerger of a division of Symantec. It was purchased as part of the demerger by the private equity firm The Carlyle Group for $8 billion in cash.

History[edit]

On October 10, 2014, Symantec announced it planned to split the company into two parts:[3] The security business remaining with Symantec., and the Information Management business to be known as Veritas Technologies Corporation. The separation of the companies was completed on January 29, 2016.[4]

On August 11, 2015 Symantec announced the sale of its Veritas information management business to The Carlyle Group. Veritas and Symantec achieved operational separation on October 1, 2015. The sale completed on January 30, 2016 when Veritas became a privately-held company.[5][6] The sale to go private was for $8 billion, and represented a mark-down on Symantec stock.[7]

See also[edit]

References[edit]

  1. ^ https://www.veritas.com/product/a-to-z
  2. ^ https://www.veritas.com/product/a-to-z
  3. ^ Robertson, Jordon (Oct 10, 2014), "Symantec to Split Into Storage, Security Companies", Bloomberg, retrieved 2014-10-10 
  4. ^ corporate press release, Symantec and The Carlyle Group Plan to Close Acquisition of Veritas January 29, 2016, retrieved 2016-01-03 
  5. ^ corporate press release, Symantec to Separate Into Two Focused, Industry-Leading Technology Companies, retrieved 2015-08-12 
  6. ^ corporate press release, Symantec and Veritas separation (PDF), retrieved 2016-02-15 
  7. ^ Preimesberger, Chris (Aug 11, 2015), Veritas Goes Private for $8 Billion Following Split from Symantec, retrieved 2017-03-23 

External links[edit]