Security outfit Symantec has been saying “oh look a badger” to reporters asking about its sale of its storage storage unit Veritas, for as much as $8 billion.
The dark satanic rumour mill claims that the floundering security vendor has approached NetApp, EMC and several private equity firms to gauge interest in the business. which the company purchased for $13.5 billion.
Veritas business has struggled to live up to expectations after sluggish demand for its storage and data management products.
The plan has been widely dismissed by Symantec, which wants to continue to split the company into two, independent publicly traded companies: one business focused on security and one business focused on information management.
Symantec said that it will separate Veritas and Symantec into two independently traded companies by the end of the calendar year. One focused on information management and one focused on security.
For the vendor, creating two standalone businesses will allow each entity to “maximise its respective growth opportunities and drive greater shareholder value.”
Michael Brown, president and CEO, Symantec has gone on record saying that Veritas remains a powerful brand that still has tremendous equity.
