December 16, 2004
Symantec swallows Veritas
Symantec, a leader in security solutions will buy Veritas the leader in backup and data management solutions. This deal will not affect your business but mostly affects Wall Street. Resellers will have to see if their reselling status gets even better with Symantec/Veritas or gets worse. I see no reason why things wouldn't get better though.
Reuters writes "The new Symantec will help customers balance the need to both secure their information and make it available, thus ensuring its integrity," John Thompson, chairman and chief executive of Symantec, said in a statement. He said customers want to cut the complexity and cost of managing their IT infrastructure and drive efficiency with fewer suppliers,
Nitsan Hargil, an analyst with Friedman Billings Ramsey, said that although Symantec will face many integration issues in the near term, the Veritas deal should be positive going forward.
"The deal brings down Symantec growth drastically," Hargil said. "Longer term, you will have a company that will be offering you solutions that no other can."
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