Symantec to Market Veritas for Million

Symantec to Market Veritas for Million


Antivirus maker Symantec Corp stated it’d market its data-storage company, Veritas, for $8 million (5.14 million lbs) in money to some team which includes Carlyle Group gas and Singaporeis sovereign prosperity account GIC.

Symantec stated following the purchase ends on Wednesday it anticipated about $6.3 million in online income profits.

Private-equity firm introduced today that it’s obtaining host administration company Veritas and data-storage . Helping fund the offer is likely to be a prosperity account in Singapore that is also an entrepreneur in Carlyle Group resources, GIC.

The recently-separate organization is likely to be brought by boss Bill Coleman, the creator and former chairman and President of BEA Systems (currently possessed by Oracle). Its new chairman is likely to be Bill Krauss, a Carlyle running government who formerly offered as chairman, leader and President of 3Com (currently possessed by Hewlett Packard).

No word about the collateral-to-debt percentage, but debt funding is likely to be supplied by a sizable number of banks offering Morgan Stanley BofA Merrill Lynch and Jefferies.

Based on a study recently from Reuters, Symentec have been trying to market Veritas for weeks that were “several, but curiosity from audience was restricted due to a tax stress related to breaking the company.”

Mountainview, Calif.-centered Veritas produced around $2.5 million in income this past year.