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Carlyle obtains Veritas with $8B LBO

Aug 11, 2015 - The Deal Pipeline

The Carlyle Group (CG) is leading an $8 billion leveraged buyout that will take Veritas off the hands of Symantec Corp. (SYMC). Singapore government fund GIC and unnamed co-investors are joining the Washington-based PE firm in the deal.

Symantec, a pioneer of computer security in the 1980s with antivirus software, had been planning to spin off Veritas, which develops software for data storage, server management, backup, disaster recovery and other processes.

CEO Michael Brown said th...