Veritas buys software for Christmas
Veritas buys software for Christmas
Expecting to strengthen through acquisition, Veritas has reached agreements to acquire Precise Software Solutions and Jareva Technologies.
Veritas hopes to extend its reach into the enterprise application performance market with two new acquisitions, a market the storage vendor said will be worth $11 billion per year by 2006.
In a deal valued at US$537 million, Veritas announced it will buy application performance software maker Precise Software. Precise makes products that monitor Web servers and databases for problems that may impact applications.
The Precise deal gives Veritas the systems, database, and application management capabilities that will allow the company to provide end-to-end monitoring of a customer's IT infrastructure to ensure applications such as, SAP, Oracle, BEA and Microsoft Exchange run faster and have less downtime, according to Veritas.
The deal values Precise shares at US$16.50 each.
Veritas CEO Gary Bloom called the deal a "strategic acquisition" that would help fill out its offerings in the network-management software industry.
The second Veritas deal was a US$62 million purchase of privately held IT automation software maker Jareva Technologies. Jareva's technology is intended to allow companies to automatically deploy additional servers, without manual intervention. Jareva's technology also actively monitors systems and applications.
On the Jareva Technologies acquisition, Mr Bloom said "It's a perfect complement to our market leading storage software. Together we can help CIO's optimise the return on both their storage and server hardware investments."
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