Storage management company Veritas Software Corp, Mountain View, California has announced a definitive agreement to acquire systems management outfit OpenVision Technologies Inc, Pleasanton, California for 7.5 million new Veritas shares, valued at around $400m. The companies say the new Veritas will integrate OpenVision’s Axxion systems management products with the Veritas foundation file system and volume […]
Storage management company Veritas Software Corp, Mountain View, California has announced a definitive agreement to acquire systems management outfit OpenVision Technologies Inc, Pleasanton, California for 7.5 million new Veritas shares, valued at around $400m. The companies say the new Veritas will integrate OpenVision’s Axxion systems management products with the Veritas foundation file system and volume management products, clustering and high availability systems, data and application management and backup tools. The aim is to offer complete storage management solutions for enterprise computing. Veritas has been moving from its traditional high-end Unix base in search of higher volume sales at the low end of late, and last September was able to announce that Microsoft Corp was embedding the Veritas Volume Manager disk and storage management software in the forthcoming 4.0 version of Windows NT, due out later this year (CI No 2,998). Veritas chief Mark Leslie is to be co- chairman, president and chief executive of the resulting company, while OpenVision’s chief executive Geoff Squire becomes co- chairman and executive vice-president of worldwide sales and service. OpenVision had sales of $29.9m for the year to June 30, $8.2m in the subsequent fiscal first quarter; Veritas sales were $25.3m in the first nine months of 1996; both are profitable.
