Symantec’s takeover of Veritas Software secure
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Manufacturing News, Source : TheManufacturer.com
Published : 24 Jun 2005 19:24
Shareholders okayed security software manufacturer Symantec's takeover of Veritas Software today, possibly the largest merger in software industry history.
The deal is expected to be worth approximately $11 billion. In a regulatory filing, Symantec had said it expected the merger to close on July 2.
In late December 2004, software giant Oracle took control of PeopleSoft in a $10.6 billion deal—one now dwarfed by the Symantec acquisition.
Veritas makes storage software, and Symantec software is used for the security of personal computers. Microsoft's recent forays into the security software is thought to have prompted Symantec’s move toward expansion.
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