The Carlyle Group Closes Veritas Acquisition
New Leadership to Focus on Product Innovation and Global Growth
Silicon Valley, CA & Washington, DC – Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announced that it has completed its acquisition of Veritas, an information management system provider, from Symantec Corp. (NASDAQ: SYMC) for $7.4 billion. The acquisition brings a new leadership team with seasoned technology executives Bill Coleman and Bill Krause as CEO and Chairman, respectively. The purchase agreement was first announced on August 11, 2015. Equity for the transaction came from Carlyle Partners VI, together with GIC, Singapore’s sovereign wealth fund, and other coinvestors.
Carlyle Managing Directors Cam Dyer and Patrick McCarter said, “Veritas is at the forefront of delivering next-generation information management solutions. Carlyle’s deep industry expertise and global network position us well to support Bill and his team in this next phase of Veritas’s growth and service to their customers.”
Veritas CEO Bill Coleman said, “I am thrilled with the possibilities for innovation and client service that we now have as a stand-alone company. We will continue to be the go-to source for solving organizations’ increasingly complex information management challenges. The global Veritas team, with Carlyle’s support, is ready to perform for our customers.”
Veritas provides businesses with software and services to help them collect, protect, analyze and optimize their data, so organizations can make smarter decisions, manage risk and minimize expense growth. Today, Veritas is in the unique position of already protecting 86% of the global Fortune 500 and utilizing that visibility and intelligence to help drive better business results. Its information management portfolio has four primary product segments: backup and recovery, integrated appliances, information intelligence and information availability, and the company enjoys #1 or #2 market positions in the majority of its current product offerings.
* * * * *
About Veritas Technologies
Veritas Technologies enables organizations to harness the power of their information, with information management solutions serving the world’s largest and most complex environments. Veritas works with organizations of all sizes, including 86 percent of global Fortune 500 companies, improving data availability and revealing insights to drive competitive advantage.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $188 billion of assets under management across 126 funds and 160 fund of funds vehicles as of September 30, 2015. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,700+ people in 35 offices across six continents.
GIC is a leading global investment firm that is uniquely positioned for long-term and flexible investments across a wide range of asset classes, including public equities, fixed income, real estate, and private equity. Established in 1981, the firm manages Singapore's foreign reserves. In private equity, GIC invests through funds as well as directly in companies, partnering with its fund managers and management teams to help world class businesses achieve their objectives. GIC employs 1,300 people across offices in Singapore, Beijing, London, Mumbai, New York, San Francisco, São Paulo, Seoul, Shanghai, and Tokyo. For more information, please visit www.gic.com.sg.
The Carlyle Group
Liz Gill, +1 (202) 729-5385
Raphel Finelli, +1 (408) 309-8348
Edelman for Veritas
Noah Banning, +1 (206) 664-8618
Jennifer Lewis, +(65) 9826 6198
# # #