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Symantec to Buy Veritas
jortega writes "Symantec is looking into buying Veritas for $13bn." The linked article is mostly about biz stuff. Seems like a kind of strange deal to me.
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The BBC and others are reporting that it's a done deal. In a merger deal valued at $13.5bn (£7bn) the all-share deal will see Symantec swap 1.1242 shares of common stock for each Veritas share.
Symantec stock is only up 200% over the last two years.
I regularly used Symantec Ghost at work which is indeed backup software. Its not a new area for Symantec . Ghost is already awsome, and widely used in the industry. Hopefully this will bring in some new technologies to make it better yet. =) Note: Norton Ghost is the home version.
Microsoft has purchased an anti-spyware company, so in fact Microsoft might simultaneously be entering the security market to compete with Symantec. This news is fresh, and might be depressing the market's enthusiasm about Symantec/Veritas.
it was conner backup exec in 1993.
then it was purchased by acada (? - acadia)
then it was purchased by seagate
then it was purchased by veritas
and amazingly enough, backup exec has continued to get better over time.
eric
Ghost was not originally a Norton/Symantec product either. It came from a company called Binary Research International
The Norton Utilities were mighty fun during the DOS days.
*I am not the backup guy*
Oh, phrases, how I love thee.
One time, when I was the backup guy and I wasn't afraid to disclose my knowledge of backupexec, I became the *backup guy*. This damned me into restoring peoples resumes and digital pictures for the rest of my employment.
When he learns his lesson, he'll again become ignorant. For now, he probably just does it because it's an IT job and the pay is OK.
While you may disagree with my opinion, S&P downgraded the stock, and
other analysts do not like it as well - American Technology Research analyst Donovan Gow said the market's negative reaction reflects the stock market's puzzlement over why Symantec, a leader in the rapidly growing market for security software, is buying Veritas, whose sales have been rising at a much slower clip. here
Symantec is down 25% from monday. I'm not saying I'm right, but do a google and there are several sources that agree.
Nextel is going to be migrating their iDEN network to be based on cdma2000 (and therefore on the migration path for EV-DV, etc.) This is actually a good thing for Nextel, their walkie-talkies are popular, but as a cellphone network, they suck. Certainly, part of this will be making Sprint and Nextel's Push-to-talk offering compatible. Merging with Sprint will give both companies the opportunity for more growth (IMO) then apart.