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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.
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.
*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.