Hello, Guest!
  • Monday, November 25, 2024

Symantec Closes $5.3B Veritas Sale to Carlyle Group; Michael Brown Comments


dhs-cyberA group of investors led by Carlyle Group (Nasdaq: CG) has closed its nearly $5.3 billion acquisition of Veritas from Symantec Corp. (Nasdaq: SYMC).

Symantec™s board of directors expects to return $4 billion in accelerated share repurchases and additional capital return to shareholders by the end of March 2017, Symantec said Friday.

Michael Brown, Symantec president and CEO, said the company intends to œmaximize shareholder value through returning significant capital to shareholders and to consider acquisition opportunities that will accelerate our unified security strategy.

Carlyle and Symantec recently modified the value of the deal from $8 billion to $5.3 billion.

J.P. Morgan Securities and Fenwick & West LLP served to advise Symantec on the financial and legal aspects of the transaction.

Video of the Day

Related Articles

Laura Fritzlen Joins Zscaler as Public Sector Alliances & Channels VP Executive Moves

Laura Fritzlen Joins Zscaler as Public Sector Alliances & Channels VP

Technology industry executive Laura Fritzlen has been named vice president of public sector alliances and channels at Zscaler (Nasdaq: ZS), GovCon Wire has learned. She will be responsible for expanding strategic partner relationships and alliances with public sector organizations to help strengthen collaboration and drive growth at the cloud security company. “With more than two

Michael Brown, John Jack Join Shield Capital as Venture Partners Executive Moves

Michael Brown, John Jack Join Shield Capital as Venture Partners

Investment firm Shield Capital has appointed technology industry leaders Michael Brown and John “JJ” Jack as venture partners. Brown, a 2022 Wash100 awardee, and Jack will bring decades of management and industry leadership experience as the San Francisco-based venture capital firm looks to help government and commercial clients address challenges in artificial intelligence, cybersecurity, autonomy

Pentagon Starts Search for Defense Innovation Unit Director; Heidi Shyu Quoted Executive Moves

Pentagon Starts Search for Defense Innovation Unit Director; Heidi Shyu Quoted

The Department of Defense has begun its search for a new executive who will succeed Michael Brown as director of the Defense Innovation Unit, which helps DOD speed up the adoption of commercial technologies to strengthen national security. Brown, a 2022 Wash100 Award winner, will step down from his role as DIU director once his