Whats an analyst to do?- the boys at Goldman Sachs have done it again, driving more tech M&A – these guys will definitely get their bonuses for 04. So now Veritas is becoming part of the sprawling Symantec empire.
Gary bloom is set to be vice chairman and president, with John W. Thomson maintaining his role of emperor in Rome, i mean CEO in Cupertino.
So just how big will this darned thing be? according to the press release
By merging with VERITAS, Symantec will expand its combined revenue base and create an entity with significantly greater financial scale and resources. The aggregate revenue of the combined company is expected to be approximately $5 billion for fiscal year 2006, which begins in April 2005 and ends in March 2006. Approximately 75 percent of the revenue of the combined company is expected to come from the enterprise business and 25 percent from the consumer business. In addition, the combined company will have approximately $5 billion in cash.
This is the first Compliance Oriented Architecture megamerger. Its funny because John Dvorak apparently thinks the Oracle PSFT merger may have been driven by the compliance issues of human capital management (that’s HR…) too
Like i said though yesterday, nobody can say the industry is boring.