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Symantec secures $500M from Silver Lake

Feb 05, 2016 - The Deal Pipeline
Board and Executive Moves-Investments-Financial Results

Days after Symantec Corp. (SYMC) closed the $7 billion sale of its Veritas unit to Carlyle Group LP (CG), the cybersecurity company on Thursday, Feb. 4, announced a $500 million investment from Silver Lake Management LLC.

Symantec CEO Mike Brown described the investment as a "a strong vote of confidence" in the company's makeover, during a Thursday earnings call. In addition to the sale of data management software maker Veritas, Symantec has shifted its research and development investment,...