Symantec Corp. has announced Veritas Technologies Corporation as the name for its independent publicly traded information management company, which will be created following the completion of the previously announced separation into two companies in October of 2015. Veritas is a powerful brand that has tremendous equity with customers, partners and employees. Veritas is ready to solve the most critical information challenges facing our customers today and tomorrow. Veritas represent’s an established market leader, serving 75% of the Fortune 500 with a broad range of products that include backup and recovery software and appliances, storage management, clustering, disaster recovery, archiving and eDiscovery solutions. The Veritas business generated $2.5 billion in revenue for Symantec in fiscal year 2014. Veritas competes in markets that are an estimated $11 billion today, potentially expanding to $16 billion in 2018 with a CAGR of 7% from 2013 to 2018.
The new Veritas Technologies Corporation has continued to build out its organization and evolve its product strategy, while serving customers with its industry-leading solutions. Veritas will continue to invest in and enhance those core products, but they will also serve as the foundation for new information availability and insight technologies that will help customers further unlock the value of their data to help drive business productivity. Veritas will extend current product capabilities, leverage IP and build new coordinated architectures in the coming months.