July 6, 2005 2:34 PM PDT

Symantec closes Veritas merger

Symantec announced on Tuesday that it had closed its megamerger with Veritas Software, officially marrying the security giant with the storage maker. With the close of the $10.5 billion deal, Symantec hopes to win larger deals than it could land without Veritas, according to analysts.

The deal formally closed Saturday, as previously reported, with the heavy lifting for the integration planning occurring in the next six months. When Symantec reports its quarterly results for the three-month period ending in December, analysts will examine whether the combined company can secure more contracts in excess of $100,000 each than as separate companies. That would translate into more than the 615 deals for $100,000 each and a total of 27 deals over $1 million, according to Morgan Stanley and the companies' financial reports.

1 comments

Join the conversation!
Add your comment (Log in or register)
Another good company gone!
Say goodbye to Veritas!
Posted by ledzep75 (53 comments )
Reply Link Flag
 

Join the conversation

Add your comment

The posting of advertisements, profanity, or personal attacks is prohibited. Click here to review our Terms of Use.

Inside CNET News

1-2 of 10

Scroll Left Scroll Right

RSS Feeds

Add headlines from CNET News to your homepage or feedreader.

Markets

Market news, charts, SEC filings, and more

Related quotes

Veritas Software Corporation (0.26%) 0.21 80.94
Symantec (0.84%) 0.15 17.93
Dow Jones Industrials (0.57%) 72.81 12,874.04
S&P 500 (0.68%) 9.13 1,351.77
NASDAQ (0.95%) 27.51 2,931.39
CNET TECH (0.84%) 17.13 2,049.14
  Symbol Lookup