January 2016 is set to see the official launch of the new Veritas as Symantec and the Carlyle Group have announced that they expect to close Carlyle’s acquisition of Veritas by 29th January.
The close of the acquisition, previously expected to take place on 1st January 2016, is subject to the satisfaction of customary closing conditions.
The soon-to-be CEO of Veritas, Bill Coleman, said: “The team at Carlyle and I continue to be very excited about Veritas, its strong brand and products, as well as its top-tier customer and partner base. We see in Veritas an incredible opportunity for value creation and look forward to working alongside the strong existing Veritas team.”
The deal, worth an estimated $7-8 billion, was first announced in July 2015. Carlyle Group LP are a private equity firm with the expertise and resources to accelerate the execution of Veritas’ strategy and the ability to bring next-generation information management solutions to customers even sooner.
Speaking in the summer, Michael A. Brown, CEO of Symantec, described the sale as a ‘decisive step forward’ that would enable both businesses to thrive.
Veritas has assured its customers of ongoing continuity at this time, stressing that the completion of the sale will not impact its existing product or support strategies or the way in which it does business with organisations.