Symantec sells Veritas to Carlyle

CarlisleSoftware security company Symantec has decided to sell off its data storage business Veritas to private equity firm Carlyle.

It is all rumour and speculation at the moment, but the deal could be officially announced today when Symantec reports its quarterly earnings.

Carlyle is saying nothing but the deal has leaked already. Bloomberg had reported first last month that Symantec was nearing a deal to sell Veritas to Carlyle for between $7 billion and $8 billion.

Symantec has been seeking buyers for Veritas for several months, but interest from potential buyers was limited because of a tax burden associated with splitting the company.

Symantec had been planning to separate its business focused on corporate and consumer security software, which had $4.2 billion in revenue last year, from Veritas, which has about $2.5 billion in revenue.

Carlisle was a bit of a headache for Mary Queen of Scots, we hope that Symantec’s storage outfit does not meet a similar fate.