Type Private Key people Bill Coleman, CEO | Industry software industry | |
Founded January 29, 2016; 13 months ago (2016-01-29) Headquarters Mountain View, California, U.S. Products Data security, back-up and recovery such as Disaster Recovery Orchestrator, Veritas Infoscale, data management such as HyperScale for OpenStack | ||
Veritas Technologies LLC is an American international data management company that was formed in 2016 by the demerger of a division of Symantec. It was purchased as part of the demerger by the private equity firm The Carlyle Group for $8 billion in cash.
History
On October 10, 2014, Symantec announced it planned to split the company into two parts: The security business remaining with Symantec., and the Information Management business to be known as Veritas Technologies Corporation. The separation of the companies was completed on January 29, 2016.
On August 11, 2015 Symantec announced the sale of its Veritas information management business to The Carlyle Group. Veritas and Symantec achieved operational separation on October 1, 2015. The sale completed on January 30, 2016 when Veritas became a privately-held company. The sale to go private was for $8 billion, and represented a mark-down on Symantec stock.