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 “maximize 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.

Check Also

health care

Aptive-HTG JV Wins $121M in VA Health System Modernization Task Orders

A joint venture between Aptive Resources and Enterprise Resource Performance Inc. has won two task orders worth $121M combined to provide systems integration and operational support for the Department of Veterans Affairs’ healthcare networks.

IMAP mission

SpaceX to Help Launch NASA’s Heliosphere Exploration Spacecraft Under $109M Contract

SpaceX will provide launch services under a potential $109.4M contract for a NASA-funded mission that seeks to further study the heliosphere’s boundary that produces a magnetic barrier protecting the solar system. NASA said Saturday its Interstellar Mapping and Acceleration Probe mission will examine the neutral particles that pass through the barrier and study how particles become faster in space.