Norton antivirus software company Symantec Corp has agreed to sell its data storage unit, Veritas, for $8 billion to Carlyle Group LP as it seeks cash to turn around its core security software business. Earlier Symantec had announced that it would separate the company into two so that each could focus solely into their areas. Symantec lost focus from its core strength when it acquired Veritas in 2005. The acquisition did not fare well for the security company. In addition, Symantec sales team faced a lot of problems in selling the Veritas products since most of the corporates and enterprises recalled it for its security expertise.
Finally the company has made a move that will allow it to reclaim its leadership in the security domain which has become a hotbed of activities with the entry of niche and specialized players. Now the company will have enough time to pitch itself for the booming and on-the-rise mobility market. It has lost this space for other competitors because of poor marketing and R&D.
"The market is seeing significant changes, and customers need a trusted independent partner 100% focused on data management and customer success vs. corporate structure dynamics -- that partner is Commvault," said Ron Miiller, Senior Worldwide Vice President, Commvault. "Even with a sale and new ownership, Symantec/Veritas customers can expect a continued loss of focus and likely shifting product priorities. Customers should be concerned - especially ones looking to evolve data management strategies to move confidently to hybrid cloud environments. I can tell you that Commvault is 100% focused on data management and its customers’ success, unlike others who may be distracted.”
Veritas can utilize its strength in tapping the storage management market which has been its forte for years.
Comments
Post a Comment