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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.

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

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