Symantec to Offload Veritas

Enterprise & IT Aug 11,2015 0

Symantec has agreed to sell its data storage unit, Veritas, for $8 billion to a group led by Carlyle Group LP as it seeks cash to turn around its core security software business. The deal will give Symantec much-needed cash to compete better in the cybersecurity market.

Symantec has been facing headwinds in its security software business as weak PC sales hurt demand for its products, which come bundled with computers.

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