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Symantec finally sells Veritas for $8 billion to investment group

Discussion in 'CSO' started by RSS, Aug 11, 2015.

  1. RSS

    RSS New Member Member

    Symantec is selling its information management business, known as Veritas, to an investor group led by The Carlyle Group for US$8 billion as it looks to increase its focus on security.

    The sale is something Symantec has been working on for the better part of a year. The group buying Veritas also includes GIC, Singapore's sovereign wealth fund, and other expected co-investors, Symantec said on Tuesday. Upon closing of the transaction, Symantec expects to receive about $6.3 billion in net cash.

    [ ALSO ON CSO: Investors pour billions in to cybersecurity firms ]

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