|By Jeremy Geelan||
|December 14, 2004 12:00 AM EST||
According to the New York Times this morning, negotiations between security giant Symantec and backup/storage giant Veritas that have lasted for more than a month are almost complete.
If successful, they would lead to "the announcement of a possible deal as early as this week," says the paper.
The NYT cited "executives close to the negotiations" as their source.
With 40% of the market for backup and archiving software, Veritas would bring Symantec just what it needs to round out its Norton line of security and maintenance products and turn the combined product lines into a one-stop computer software shop that would rival all-comers.
Veritas revenues last year were $1.75 billion, and its market cap is $10.6 billion.
|Slow Down... 12/14/04 09:50:04 AM EST|
Give Veritas some time to respond to this offer. Its only 7:10 in California this morning and they are just getting ready for their first cup of coffee. I suspect there will be many more developments in the next several days.
|frankyu4 12/14/04 09:26:27 AM EST|
>>>The Board of Directors of Veritas has not responded as of yet. I will be interested as to what their response is.<<<
They knew of the deal before...
"The two Silicon Valley-based companies have been discussing a deal for more than a month with an official announcement possible as early as this week, The New York Times reported Tuesday.... "
|minesweeper385 12/14/04 09:24:55 AM EST|
The Board of Directors of Veritas has not responded as of yet. I will be interested as to what their response is.
|tiny_vrts_long 12/14/04 09:23:11 AM EST|
New York Times: "All we have at this point are rumors from various sources wire services, etc."
... all of which appear to follow the NYT line, so perhaps we have a single source. How reliable is the NYT historically?
|Take It Easy Guys 12/14/04 08:47:33 AM EST|
a month of talks is nothing - deals like this collapse all the time
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