Veritas Buys Pair of Software Firms
The company acquires Precise Software and Jareva for a combined $599 million.Veritas Software Corp. Thursday announced acquisitions of two software companies, for a combined $599 million, as it prepares for a late 2003 launch of a new suite designed to administer applications, servers and storage, all through one console. Veritas acquired Precise Software Solutions Ltd., of Westwood, Mass., and of Israel, for $537 million. Precise makes storage management software for Microsoft Corp.s Windows, plus management software for applications and databases on other platforms. Precise, like Veritas, is a key supplier of technology used in Windows itself. For another $62 million, Veritas also acquired Jareva Technologies Inc. Jareva, of Sunnyvale, Calif., is a management service provider that, like others in its niche, has transitioned from hosting Internet infrastructures to managing enterprises in-house networks. Its primary product line is OpForce 2.0.
"Think of a matrix here were filling out for a CIO to manage all three aspects of his business," said Mark Bregman, executive vice president of product operations, referring to applications, servers and storage, in an interview with eWEEK. "Weve got some digesting to do, and thats going to take some time, [but] I dont think there are any key technologies holes" left, he said, in Mountain View, Calif.