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8/11/2015
02:10 PM
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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

Marcia Savage is the managing editor for Network Computing, and has been covering technology for 15 years. She has written and edited for CRN and spent several years covering information security for SC Magazine and TechTarget. Marcia began her journalism career in daily ... View Full Bio

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