This time, it’s done. After announcing it several months ago, the security solutions specialist Symantec is selling its Veritas Technologies Corporation business, which focuses on information management.
Confirming an option that has been mentioned many times, Symantec has just sold its activities related to information management, grouped together in Veritas, to a group of investors led by the fund The Carlyle Group, for 8 billion dollars. For several months, the American company specializing in security solutions has expressed its intention to separate from Veritas to strengthen its original business. It plans to donate part of the sale to its shareholders and to benefit from a contribution of fresh money for the development of its security products and services. These are changing significantly with the rise of cloud services and cybersecurity tools.
Symantec had revealed in October 2014 its intention to split into two. In January, it renamed its information management business Veritas Technologies Corporation. Rumors then evoked a resale of Veritas for $8 billion, ten years after its takeover in a transaction valued at the time at $13.5 billion. The two entities operated separately, particularly in France, before a financial separation scheduled for January 2016. Last July, Veritas explained that it was focusing on software and storage appliances, as well as on data governance and e -discovery.