Symantec closes Veritas merger
Announcement officially marries the security giant to the storage maker.
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.