Veritas snaps up Seagate network storage software

Veritas snaps up Seagate network storage software

Seagate Technology last week sold its network and storage management group to Veritas for $US1.6 billion last week. Despite the fact that Veritas has only dealt direct with users in the past, local Seagate officials claimed the buyout will not have a negative impact on the business of its Australian resellers.

"One of the reasons Veritas cited for seeking this partnership with Seagate is that they wanted a channel and wanted to get their products out into the channel.

"So I think it can only be a positive thing for the channel," one official said.

Veritas, who have only a small presence in Australia, focus on the high end of the market with its Unix storage management products. Seagate, on the other hand, is best known for its Windows NT and NetWare offerings.

If the merger goes ahead, the newly formed company will pitch itself as a source for a comprehensive "desktop-to-data centre" portfolio of storage software products, Veritas said.

The company, which will retain the name Veritas, will have about 3200 employees in 16 countries, putting it among the world's largest providers of storage management software, Veritas said.

In particular, the acquisition will give Veritas a strong presence in four areas of storage management software: backup and recovery, core operating system level storage, storage resource management and high availability, according to the statement.

Agreement entered

Seagate Technology has entered a manufacturing and joint development agreement with the new company in order to make use of techno-logy that can enhance its own storage products, Veritas said.

The transaction is expected to be completed in January 1999, subject to the approval of stockholders and the US Securities and Exchange Commission, as well as clearance under antitrust laws and other customary closing conditions.

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