Industry observers ponder potential Symantec-Veritas merger
Symantec is negotiating to buy Veritas Software, a maker of data backup and storage products, for $13 billion, according to published reports.
A Symantec spokesperson said the company "doesn't comment on rumor or speculation." Veritas did not respond to a request for comment.
Andrew Braunberg, analyst at market-research firm Current Analysis, said the move would not be at all surprising. In October, Symantec announced its Information Integrity Strategy, which set the stage for such an acquisition, he said.
By addressing the need to keep businesses up and running even in the event of internet attacks or disruptions, the strategy showed that Symantec planned to push beyond security into network management and storage management, Braunberg said.
Paul Stich, president of managed security firm Counterpane, said the deal would represent continued consolidation in the IT industry. But he added that he would be surprised if it actually closes.
Analysts at Forrester Research said Veritas has been looking for ways to move into security while Symantec needs Veritas in order to follow through on its Information Integrity Strategy.