|
« Secunia reports new IE vulnerability |
Main
| Turkey to join EU? »
December 17, 2004
Symantec's $13 billion Veritas merger
Symantec - the company behind Norton anti-virus software - continues aggressive expansion, with the announcement of a merger deal with software storage company Veritas, in a deal said to be worth $13 billion.
Symantec have acquired nearly a dozen companies over the past 3 years, but this is by far their largest acquisition. According to the BBC in Symantec in $13bn Veritas merger, this latest will:
expand Symantec's reach into the corporate software market and give it a sales staff trained to sell to larger companies.
However, ZDnet reports in Rivals hope for the worst for Symantec that the security giant may have bitten off moer than it can easily chew:
"Right now, mergers of this type and of this scope--where the two companies are both large--tend to be disruptive," said Todd Cadley, a spokesman for EMC. "Because of the disruption, we will accelerate our gains in the market."
Whilst this could cynically be seen as marketing posture from a rival being left behind, market analysts agree that it cannot be smooth in the shorter term:
Nitsan Hargil, analyst at Friedman, Billings, Ramsey, said: "While we believe, longer term, that the acquisition of Veritas could make for an exciting company, we are concerned about the negative impact it will have on Symantec's growth profile."
Posted by at December 17, 2004 10:16 PM
> Discuss this in the Platinax Business forums
|
