Symantec and veritas said their decision to merge in a US$13.5 billion transaction will meet the needs of IT managers who are seeking an over-arch- ing solution to their security and storage challenges. Under the terms of the agreement, which is expected to close in the second quarter of next year, the merged firm will operate under the Symantec name and will continue to be lead by Symantec chief executive John Thompson. The two companies said their combined aggregate revenue is expected to be approximately US$5 billion, with approximately 75 per cent of the revenue expected to come from the enterprise business. Symantec is best known for its Norton line of firewall products, while Veritas organizes its portfolio of storage software under the CommandCentral suite.
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