Keep up with the latest cybersecurity threats, newly discovered vulnerabilities, data breach information, and emerging trends. Delivered daily or weekly right to your email inbox.
Symantec Sells Veritas To Carlyle Group For $8 Billion
The cybersecurity giant sheds its data storage unit and puts an end to a failed foray into storage.
1 Min Read
Symantec's big experiment in combining security and storage has officially come to an end. The company, which bought storage giant Veritas for $13.5 billion in 2005, announced Tuesday that it has agreed to sell its storage business to an investor group for $8 billion in cash.
The investor group is led by The Carlyle Group along with GIC, a sovereign wealth fund in Singapore. The deal, which is subject to regulatory approvals, is expected to close by Jan. 1.
Details from Network Computing here.
About the Author
You May Also Like
More Insights
