Articles about Veritas

Symantec selling Veritas to private equity firm – report

Symantec’s soon-to-be-split-off Veritas business is destined for private equity ownership, according to Bloomberg. The buyer is said to be the Carlyle Group and it will pay something between $7bn and $8bn for a business, which has forecast $2.6bn annual revenues. It’s been noted for some time that there is no CEO identified …
Chris Mellor, 09 Jul 2015

Veritas fills another seat on EMEA exec jet

Veritas has inserted industry veteran Gareth Hansford into the top boss slot for EMEA channels, as the organisation continues to disentangle itself from Symantec. This is a return to vendor land for Hansford, who worked at distie Azlan for 20 months before he left in February amid a restructure. Prior to that he held senior …
Paul Kunert, 17 Apr 2015

Symantec palms Veritas off on private equity group in $8bn mega-sale

As suspected, Symantec has offloaded its Veritas storage business to the Carlyle Group for $8bn - way off the $13.5bn paid for the company in 2004. The Carlyle Group has contributions towards the purchase from GIC, Singapore’s sovereign wealth fund, and other expected co-investors. Symantec expects to receive approximately $6. …
Chris Mellor, 11 Aug 2015
hands waving dollar bills in the air

Symantec may flog off Veritas – but where's the CEO hunt at?

Symantec is being pressed to sell its Veritas storage unit to private equity instead of floating it as an independent publicly-owned business, according to reports over the weekend. Symantec intends to split itself into separate security and storage businesses as a way of re-igniting growth for both. CEO Michael Brown will run …
Chris Mellor, 13 Apr 2015
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Symantec’s dismal results show need for Veritas sale

Symantec’s latest results, published on the day of the Veritas sell-off announcement, show a 14 per cent revenue decline and 49 per cent profit fall on the annual compare. Revenues of $1.5bn produced profits of $117m, compared with $1.74bn and $236m respectively a year ago. On the sequential compare, the previous quarter’s …
Chris Mellor, 12 Aug 2015
Car_boot_sale

Cain says Veritas is in fine fettle as able Symantec preps for split

Data storage biz Veritas has announced five product releases and updates, and set out its product strategy as an independent operation during and after its separation from Symantec. Symantec EVP and chief product officer Matt Cain divided the products destined for Veritas into foundational and next-generation categories, with …
Chris Mellor, 08 Jul 2015
Planet of the Apes

Veritas is home. Symantec’s storage split-off adopts old name

Bisecting Symantec has decided after much deliberation the Veritas brand - the one it torched years ago - will be the monicker for the Information Management business when it splits from the mothership. Security biz Symantec paid $13.5bn for Veritas at the end of 2004, thinking that storage plus security would make a powerful …
Chris Mellor, 28 Jan 2015
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Storage biz gets down with da kidz, announces new update on Reddit

Comment A NetBackup update is coming from Veritas, according to a Reddit forum. Veritas hosted an AMA (ask me anything) discussion on 13 March which has been posted to Reddit. According to the postings, NetBackup 7.7 will feature more capabilities in these following areas: Cloud storage, with Google Cloud Storage Nearline mentioned …
Chris Mellor, 17 Mar 2015
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Symantec announces latest grand fromage prior to split

Symantec has appointed another senior exec to its team, ahead of a major corporate restructuring which will see the firm split into two by the end of the year. The company today named Keith Bird, UK boss of Check Point, as its next managing director for Northern Europe. The division will effectively undo the 2004 acquisition of …
Kat Hall, 17 Jun 2015

Symantec: Corporate divorce starts on April Fool's Day

Symantec is to operate as two separate storage and security organisations from April Fool’s Day, as the deadly serious game of long-term survival begins in earnest. “We have begun to realign the sales and marketing organisations to support both businesses, starting with two new global sales leaders: Adrian Jones for Symantec and …
Paul Kunert, 05 Mar 2015
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Backup Exec worships VMware's spanking new ESXi appeal

Proprietary backup software Backup Exec is now in its mid-teens, with v15 eying up VMware and its distinct six appeal, as well as cosying up to Amazon. The hybrid cloud rules, OK! The soon-to-be-split Symantec, with Veritas being the storage brand and company, said BE 15 supports the latest VMware enhancements on the source data …
Chris Mellor, 07 Apr 2015

Symantec sources claim exec teams in place by April Fools' Day

Symantec execs will line up under the classic security or information management divisions from April Fools’ Day – no, seriously – amid talk that senior management may revive the Veritas storage brand. Weeks ago, El Chan revealed UK boss Simon Moor had upped sticks and left Huw Owen, head of EMEA, in temporary charge of local …
Paul Kunert, 26 Jan 2015
Crown Casino poker room

On-prem storage peeps. Come here. It's time for real talk. About Google

Comment Veritas, Symantec’s renamed and soon to be spun off storage biz, announced it’s supporting Google’s nearline cloud storage. Its Veritas NetBackup 7.7, now in beta with general availability planned for the summer, can back up data to Google Cloud Storage Nearline. Here’s Veritas supporting cloud disks as an archival target …
Chris Mellor, 13 Mar 2015

RSA boss packs his fishing rod and heads for the hills

Art Coviello is retiring from his exec chairman role at the top of RSA, EMC's security business, leaving behind an acquisition that never bought in big bucks for the T Rex of the storage world, and was blighted by NSA backdoor revelations in 2013. RSA is known in the security world for its SecurID tokens and the fact that its …
Chris Mellor, 04 Feb 2015
US cashpoint. Pic: Tax Credits

Rubrik deluged with a bucket full of B-round dollars

Rubrik has gotten itself a $41m B-round funder just months after its $10m A-round. The company aims to disrupt the back-up and recovery market dominated by EMC, IBM and Symantec (Veritas). Its backup-to-the-cloud r300 Series Appliance is now generally available and described as using hyper-converged technology and offering a …
Chris Mellor, 26 May 2015
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Boss splits as Symantec UK consciously uncouples

The expected jostling for senior positions at Symantec continues ahead of the divorce between the security and storage wings, with UK boss Simon Moor exiting the business. The conscious uncoupling scheduled to occur by the end of this year – which will effectively undo the 2004 acquisition of Veritas – will leave two independent …
Paul Kunert, 12 Jan 2015
Flag of Israel; credit James Emery

Intel forced to shoot down viral 'Israeli boycott' whopper

A mischief-making political activist kicked up a stir Thursday with a phony press release claiming Intel was halting operations in Israel – over the bloody war between the nation and the Gaza Palestinian region. The site, constructed to look like Intel's official newsroom page, claims the chip giant was suspending funding of its …
Shaun Nichols, 08 Aug 2014
Beached-Whale

Splitters! First HP's cut in two, now it's Symantec’s turn – report

Analysis Multiple reports say Symantec is thinking of splitting itself up into separate security and storage businesses. Symantec bought Veritas for a massive $13.5bn in 2004, promising synergies between its existing security business and Veritas’ backup and storage management software. The synergies didn’t appear and Symantec's storage …
Chris Mellor, 09 Oct 2014
Rubik_cubes

Rubrik back-up killer emerges into daylight with $10m in funding

Rubrik, the enterprise data management start-up, has come out of stealth with $10 million funding – including Silicon Valley elite cash contributions – and an intention to knock over Symantec, EMC, CommVault and Veeam in the back-up space. Angel investors include: John Thompson, ex-Symantec CEO and current Microsoft chairman; …
Chris Mellor, 24 Mar 2015

Google chips at Amazon's Glacier with Cloud Storage Nearline

Google wants to take a chunk out of Amazon's Glacier storage business with a cloud-based archive service that can start retrieving data in three seconds. The Google Cloud Storage Nearline service, now in beta, charges one cent per GB per month for data at rest. "Many of you operate a tiered data storage and archival process, in …
Iain Thomson, 11 Mar 2015

Radian Memory Systems decloaks, says it'll twin DRAM and flash

Stealthy upstart Radian Memory Systems is coming out at the Flash Memory Summit in August, and is developing storage memory software to be used in enterprise, hyperconverged, and cloud computing environments. Storage memory refers to the twinning of DRAM and non-volatile memory, meaning flash, in a single logical address space …
Chris Mellor, 30 Jun 2015
Funnel of cash. Credit: via SXC – http://www.sxc.hu/profile/Leonardini

Symantec: Look at our Q4 numbers ... no, not those ones

The road to separation continues to be anything but smooth for Symantec’s security operation, particularly on the consumer front, as it again suffered from sales shrinkage, unlike the breakaway storage biz. In the last set of full year numbers from the firm, sales fell three per cent to $6.5bn, including a four per cent slip in …
Paul Kunert, 15 May 2015

Pure Storage shoves channel growth ahead of IPO dream bid

All-flash array start-up and IPO’er-in-waiting (we think) Pure Storage has got itself a new channel programme and two channel-focused exec hires, to get partners selling more tier-1 storage replacing Pure product. It is implementing a two-tier pan-regional distribution model, an expanded technology alliance ecosystem for …
Chris Mellor, 16 Apr 2015

SPLITTERS! Symantec cleft in twain

The reports have been confirmed: Symantec CEO Michael Brown will split the unwieldy business into separate security and information management concerns, thus undoing the 2004 Veritas acquisition. Brown has moved quickly after his confirmation in the role to lift the cleaver. The San Andreas-style fault running through the heart …
Chris Mellor, 10 Oct 2014
Alarm clock

Atlantis Computing CEO stands down

+Comment After just four months as Atlantis Technology CEO and president, Jason Donahue has left, and has been replaced by founder and now ex-chief technology officer Chetan Venkatesh. The company's management page now has Venkatesh listed as chief. Atlantis has RAM-using server and VDI virtualisation software technology products called …
Chris Mellor, 12 Jan 2015

Symantec sees profits crash ahead of corporate divorce

Symantec’s latest financials bear all the hallmarks of a business whose dramatic bisection is causing some uncertainty for customers and channel partners. A cleaver will be driven through the security and storage business by the end of this year to create two separate publicly traded entities. The groundwork for this is well …
Paul Kunert, 06 Feb 2015
Veeam CEO Ratmir Timashev

Veeam's plan: Ignore MBA marketers, don't covet magazine covers

Most CEOs give little away in interviews: they stick to the script and deliver information in easily-digestible chunks. Veeam's Ratmir Timashev does it differently: the founder, president and CEO of Veeam likes to tell stories. So when your correspondent asked him why Veeam is going well, Commvault is doing okay but Veritas, EMC …
Simon Sharwood, 01 Jun 2015
Symantec

Symantec sells off Veritas' hopes and dreams

Five years and thousands of broken dreams ago, Veritas ate application performance management software maker Precise for $609m. And now Symantec is offloading the pricey baggage. Symantec last week admitted to its embarrassment by announcing an agreement to sell the Precise i3 software assets to Vector Capital, a private equity …
Ashlee Vance, 21 Jan 2008
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Symantec rejigs Veritas line-up

Symantec has done some wholesale rebundling and rebranding of the Veritas product portfoilio it acquired last year. Symantec Data Centre Foundation pulls together Veritas Storage Foundation, Veritas Server Foundation and, crucially, Veritas' NetBackup. The flagship recovery software hasn't been part of an all-in package like …

Veritas lowers Q2 forecast. Investors lower Veritas

Weak sales in the US have forced Veritas to lower its second quarter earnings forecast today - a move poorly received on Wall Street, where investors pummeled Veritas shares. Veritas is now looking for second quarter revenue to come in between $475m and $485m. This is a serious drop from the $490m -$505m range provided by …
Ashlee Vance, 06 Jul 2004

Lawsuit schmawsuit: Pure lures EMC UK boss James Petter

EMC veteran and UK boss James Petter is defecting to flash nemesis Pure Storage to take on a senior European role. Petter has been at EMC for a little over eleven years, and prior to that was a district manager at Cisco, covering the defence, SI and outsourcers sector. In a statement, Pure confirmed Petter will join as EMEA …
Paul Kunert, 20 Jan 2015

Are virtualisation and the cloud SNUFFING OUT traditional backup software?

Comment Five years ago, you might have said that Symantec, EMC and other mainstream suppliers dominated the enterprise backup market with their products – Backup Exec, Net Backup, Networker, TSM and others. But this is no longer the case. Server virtualisation and the cloud have ripped gaping holes in the market and newer and smaller …
Chris Mellor, 05 Feb 2015
Symantec CEO Michael Brown

Symantec's CEO search ends where it started, with Michael Brown

After a six-month search, Symantec has finally named its new permanent CEO – and it's none other than Michael Brown, the man the company's board named as interim CEO in March. Brown reportedly emerged as the front-runner during a review of more than 100 potential candidates, 30 of whom were "actively vetted" for the chief exec …
Neil McAllister, 25 Sep 2014
Roughly 150kg of gold

Veeam-ing all the way to the bank: No IPO for these VM replicants

Comment At a UK temple to old tech, the London Science Museum, storage firm Veeam introduced its new tech, promising replication of VM images to the cloud – and El Reg quizzed two top Veeamers about the company. V9.0 of Veeam’s Availability Suite will add Cloud Connect Replication for Service Providers, using SSL, and be generally …
Chris Mellor, 15 Jun 2015
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Veritas digs out $30m to bury dotcom ghosts

Veritas today put to bed an interminable accounting scandal dating back to the dotcom bubble, and the reign of its disgraced CFO Kenneth Lonchar. The SEC said Veritas will dish out $30m to investors who were fiddled by the firm's shady numbers in the first half of the decade. In May 2005 Veritas said it was ready to cough the …
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Pure Storage confirms EMEA veep Rose has left the building

It is a strange world when the EMEA* organisation of a business boasts about meteoric growth and then parts with the boss of that region – but this is exactly what Pure Storage has done. The flash storage business has waved bye-bye to industry vet Steven Rose, who less than a year ago joined as veep and is now looking for his …
Paul Kunert, 21 Jan 2015
cloud

Former Veritas chief quits Symantec

Former Veritas chief exec Gary Bloom is to leave Symantec. Bloom, Symantec's vice chairman and president, will vacate both jobs before the end of March following an "orderly transition". In a statement, Bloom says he is taking a break after 25 years in the IT industry. Bloom's exit follows the recent departures of Symantec's …
John Leyden, 25 Jan 2006
The Register breaking news

Symantec inherits $1bn tax bill from Veritas

Symantec's purchase of Veritas could end up being much pricier than first imagined if the US Internal Revenue Service (IRS) has anything to say about it. The IRS has slapped Symantec with a $900m tax bill to cover allegedly insufficient payments made by Veritas in 2000 and 2001. Symantec received word of the problem from the …
Ashlee Vance, 18 Apr 2006
Veritas

SEC chases former Veritas execs over cursed AOL contract

The SEC is suing five former execs at Veritas over alleged securities fraud back in 2000. The agency alleges that the five “inflated and/or intentionally manipulated and distorted Veritas' reported financial results and misled Veritas' independent auditors” leading the firm to file false and misleading financial statements from …
Joe Fay, 03 Jul 2007
The Register breaking news

Veritas man jumps Symantec ship

Symantec's president of its key security and data management business Jeremy Burton has quit the firm to become CEO of business process software firm Serena Software. Burton, a marketing specialist, joined Symantec as part of the senior management group assimilated in the Veritas acquisition. To many, the rationale behind that …
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Deficient Veritas delays year-end fiscal report

Veritas has delayed the filing of its year-end financial forms with a US regulator after discovering "controls over financial reporting" that were not up to snuff. Veritas hopes to hand in the 10-K filing for 2004 to the US Securities and Exchange Commission by April 11. It had previously looked to meet an already extended …
Ashlee Vance, 01 Apr 2005

Veritas beats revised targets

Storage specialist Veritas Software turned in a profit of $86m for the second quarter ended 30 June 2004, up from $46m for the same period last year. Turnover was $485m, up from $408m last year. Earnings per share were 21 cents, beating analysts expectations of 19 cents. In early July, Veritas warned profits would disappoint …
John Oates, 28 Jul 2004
fingers pointing at man

Veritas gets unusual services boost in Q1

A surge in services revenue carried Veritas to a strong first quarter. This will likely be the last period in which the storage software maker reports as a standalone company with Symantec waiting to close its buy of the firm. Veritas pulled in $559m in revenue during the quarter - a 15 per cent year-over-rise from $486m in …
Ashlee Vance, 03 May 2005
The Register breaking news

Services sling Veritas to steady Q4

Veritas today dealt a mixed bag to investors, reporting that its fourth quarter revenue increased, but that its net income fell 32 per cent. Veritas posted $574m in sales during the period. This compares to $502m posted in the same period one year earlier. The 14 per cent revenue gain was somewhat offset by a decline in net …
Ashlee Vance, 27 Jan 2005
DVD it in many colours

Veritas secures Invio for $35m

Veritas proved today that its acquisition spree is not done yet, snatching up Invio Software for $35m in cash. Invio's software is already part of Vertias' CommandCentral Service product, which lets administrators monitor hardware usage and related costs. The Invio kit adds extra tools to the Vertias product by letting users set …
Ashlee Vance, 14 Jul 2004

Investors scamper from Veritas shares

Investors dumped shares of Veritas on Tuesday, reacting to a second restatement of financial results in as many years. Shares of Veritas were down 8 percent, at the time of this report, to $26.73. This follows a 6 percent drop on Monday after Veritas announced it would restate figures for 2001 and 2002 and delay filing of a …
Ashlee Vance, 16 Mar 2004
The Register breaking news

Symantec outlines plans for Veritas

Symantec has hired PricewaterhouseCoopers to help it integrate soon-tobe-acquired Veritas. The firm has also hired Bain & Co. to deal with customer-facing issues surrounding the takeover. Spin doctors for the firm are claiming the deal will mean more opportunities for its channel partners rather than just removing competition, …
John Oates, 18 Jan 2005
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PernixData chap: We are to storage as Alfred Nobel was to dynamite

Interview PernixData chief technologist Frank Denneman thinks distributed fault-tolerant memory technology (DFTM) is ushering in an era of nanosecond-scale storage access latencies that could fundamentally change applications and the way they access data. Application process run speeds could be reduced to a tenth of their present levels …
Chris Mellor, 10 Mar 2015
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Veritas buys KVS for $225m

Veritas has strengthened an already strong email backup software line by acquiring KVault Software Limited (KVS) to the tune of $225m. Veritas plans to complete the buy of KVS in September, if standard approvals go through. It will bring on KVS's 200 staffers and management and have the company operate as a separate unit within …
Ashlee Vance, 31 Aug 2004
fingers pointing at man

IBM opens x86 Veritas cluster and storage shop

Veritas and IBM have firmed up their ties with a new reselling agreement that will see Big Blue ship some of Veritas' better known software products with its servers. In particular, IBM will resell the Veritas Cluster Server product and the Storage Foundation product - which includes Veritas' file system and volume manager. …
Ashlee Vance, 20 Jun 2005