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Symantec info. management biz. to be called Veritas

ymantec Corp. today announced Veritas Technologies Corporation as the name for its independent publicly traded information management company

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BANGALORE, INDIA: Symantec Corp. today announced Veritas Technologies Corporation as the name for its independent publicly traded information management company, which will be created following the completion of the previously announced separation into two companies.

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“Veritas remains a powerful brand that still has tremendous equity with our customers, partners and employees, and after careful review it was an easy choice as the name for our information management business,” said Michael A. Brown, Symantec president and CEO.

The Veritas business generated $2.5 billion in revenue for Symantec in fiscal year 2014. Veritas competes in markets that are an estimated $11 billion today, potentially expanding to $16 billion in 2018 with a CAGR of 7% from 2013 to 2018.

By extending current product capabilities, leveraging IP and building new coordinated architectures, Veritas will bring next-generation solutions designed for hybrid cloud environments to market throughout the upcoming year.

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