Symantec did not want to share: instead, the company sold its information management business for $ 8 billion
Symantec sells part of its business to a group of investment funds led by The Carlyle Group for $ 8 billion. It's about selling the Veritas information management unit. The deal was unanimously approved by the Symantec board of directors. Among buyers, the Singapore Investment Fund GIC is also listed. The remaining buyers are not called. The deal is scheduled to close before January 1, 2016.
According to Carlyle, Veritas CEO will be the head of software developer Cassatt Corp. and Symantec board member Bill Coleman. The Board of Directors of the company will be headed by Carlyle’s Chief Operating Officer, Bill Krause, who will deal with technology and business services.
According to Symantec CEO and President Michael Brown, the company will now be able to concentrate on developing protection solutions and strengthen its position in the global market for information security solutions. This has always been the main focus of Symantec development.
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Symantec bought Veritas business in 2005 for $ 13.5 billion. Veritas portfolio includes enterprise solutions for data backup and recovery, archiving, storage management and uninterrupted access to data. In October 2014, Symantec announced plans to divide the business into two public companies - Symantec and Veritas. However, in April 2015, negotiations began with private investment funds and potential buyers to sell Veritas, reports The Wall Street Journal.
According to Gartner, in 2014, Symantec was the leader in the information security market with a share of 17.2% in monetary terms. The second place was taken by Intel (owning McAfee ) with a share of 8.5%, the third - IBM with a share of 6.9%, the fourth - Trend Micro with a share of 4.9% and the fifth - EMC from 3.7% of the market.
At the end of the 2014 fiscal year, Symantec's revenues in the field of information security amounted to $ 4.2 billion, and in the field of information management - $ 2.5 billion. In the quarter, the company reported a profit of $ 117 million ($ 0.17 per share) versus $ 236 million ($ 0.34 per share) in the same period last year. The company's revenue fell by 14% to $ 1.5 billion.
Shares of Symantec, which earlier fell by 10.7% from the beginning of the year, yesterday fell by more than 6% to $ 21.34 (by 12.47 Moscow time). Shares of Carlyle Group LP fell 3.54% to $ 24.28.
Symantec analysts predict that by 2018, the global market for information security solutions will reach $ 38 billion, and the market for information management solutions - $ 16 billion.
According to Carlyle, Veritas CEO will be the head of software developer Cassatt Corp. and Symantec board member Bill Coleman. The Board of Directors of the company will be headed by Carlyle’s Chief Operating Officer, Bill Krause, who will deal with technology and business services.
According to Symantec CEO and President Michael Brown, the company will now be able to concentrate on developing protection solutions and strengthen its position in the global market for information security solutions. This has always been the main focus of Symantec development.
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Symantec bought Veritas business in 2005 for $ 13.5 billion. Veritas portfolio includes enterprise solutions for data backup and recovery, archiving, storage management and uninterrupted access to data. In October 2014, Symantec announced plans to divide the business into two public companies - Symantec and Veritas. However, in April 2015, negotiations began with private investment funds and potential buyers to sell Veritas, reports The Wall Street Journal.
According to Gartner, in 2014, Symantec was the leader in the information security market with a share of 17.2% in monetary terms. The second place was taken by Intel (owning McAfee ) with a share of 8.5%, the third - IBM with a share of 6.9%, the fourth - Trend Micro with a share of 4.9% and the fifth - EMC from 3.7% of the market.
At the end of the 2014 fiscal year, Symantec's revenues in the field of information security amounted to $ 4.2 billion, and in the field of information management - $ 2.5 billion. In the quarter, the company reported a profit of $ 117 million ($ 0.17 per share) versus $ 236 million ($ 0.34 per share) in the same period last year. The company's revenue fell by 14% to $ 1.5 billion.
Shares of Symantec, which earlier fell by 10.7% from the beginning of the year, yesterday fell by more than 6% to $ 21.34 (by 12.47 Moscow time). Shares of Carlyle Group LP fell 3.54% to $ 24.28.
Symantec analysts predict that by 2018, the global market for information security solutions will reach $ 38 billion, and the market for information management solutions - $ 16 billion.
Source: https://habr.com/ru/post/293558/
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