Symantec did not want to share: instead, the company sold its information management business for $ 8 billion

    The company Symantec sells part of its business group of investment funds led by The Carlyle Group for $ 8 billion. It's about selling the Veritas information management unit . The transaction was unanimously approved by the Symantec Board of Directors. Among buyers are also listed Singapore State Investment Fund GIC . The remaining buyers are not called. The deal is scheduled to close before January 1, 2016.

    According to Carlyle, Veritas CEO will be head of software development at Cassatt Corp. and Symantec Board Member Bill Coleman. The board of directors will be led by Carlyle COO Bill Krause, who will focus on technology and business services.

    According to Symantec CEO and President Michael Brown, the company will now be able to concentrate on developing security solutions and strengthen its position in the global market for information security solutions. This has always been the mainstream of Symantec.

    Symantec acquired Veritas in 2005 for $ 13.5 billion. Veritas portfolio includes enterprise solutions for data backup and recovery, archiving, storage management and uninterrupted data access. In October 2014, Symantec announced plans to split the business into two public companies - Symantec and Veritas. However, in April 2015, negotiations began with private investment funds and potential buyers on the sale of Veritas, reports The Wall Street Journal.

    According to Gartner, in 2014, Symantec was a market leader in information security with a 17.2% share in value terms. The second place was taken by Intel (owning McAfee ) with a share of 8.5%, the third - IBM with a share of 6.9%, the fourth - Trend Micro with a share of 4.9% and the fifth - EMC with 3.7% of the market.

    At the end of fiscal year 2014, Symantec generated $ 4.2 billion in information security and $ 2.5 billion in information management. At the end of the quarter, the company reported a profit of $ 117 million ($ 0.17 per share) versus $ 236 million ($ 0.34 per share) in the same period last year. The company's revenue decreased by 14% to $ 1.5 billion.

    Symantec shares, which had previously fallen by 10.7% since the beginning of the year, yesterday fell more than 6% to $ 21.34 (12.47 Moscow time). Carlyle Group LP shares fell 3.54% to $ 24.28.

    Symantec analysts predict that by 2018 the global market for information security solutions will reach $ 38 billion, and the market for information management solutions will reach $ 16 billion.

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