Symantec Completes Acquisition of Veritas

 
 
By Dennis Fisher  |  Posted 2005-07-11
 
 
 

The merger of security software leader Symantec and Veritas, a force in the storage and backup sector, became official last week after months of planning.

The companies announced the planned merger in December and have spent the intervening months working through the myriad details involved in combining two complex organizations.

Gary Bloom, the former CEO of Veritas, is now the vice chairman and president of the combined company, and John W. Thompson will continue as the CEO of Symantec.

The $13.5 billion merger is one of the larger transactions in recent years in the security industry and gives Symantec a much broader range of products, as well as streamlined access to Veritas list of Fortune 500 customers.

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