Carlyle Group Completes Acquisition of Veritas, Finally for $7.4 Billion

Veritas Technologies LLC begins as a newly independent company.

Led by new CEO Bill Coleman, Veritas is focused on solving organizations’ exponentially growing data challenges.

Veritas provides businesses with software and services to help them collect, protect, analyze and optimize their data, so organizations can make smarter decisions, manage risk and minimize expense growth. The company is already protecting 86% of the global Fortune 500 and utilizing that visibility and intelligence to help drive better business results.

“In the era of the cloud, many organizations won’t own their data center and many might not even own their applications. Other than your team, data is the most critical asset of value in the 21st century,” said Coleman. “We’re in a unique position as the company that manages and protects the world’s information, and I am honored to become part of the Veritas family to serve our customers and partners.“

The company pursues market segments that in aggregate represent a $24 billion market opportunity by 2018. These markets include Backup and Recovery, Integrated Appliances, Information Availability and Archiving solutions, where Veritas holds number one or number two market share positions.

For over a decade, Veritas has been recognized as a leader in the Gartner Magic Quadrant for both Enterprise Backup Software and Integrated Appliances (1) and Enterprise Information Archiving (2). Now with the backing of The Carlyle Group, the company is accelerating new solutions in this fast-growing market.

The new Veritas leadership team brings together a strong mix of industry expertise and entrepreneurial success. Partnering with the executive team is a seasoned board led by chairman Bill Krause, formerly president and CEO of 3Com and David Scott, former chairman and CEO of 3Par who was until recently SVP and GM of the global HP storage business.

CEO Bill Coleman has a long history of establishing innovative technology companies.is an industry veteran who has spent 25 years running prominent Silicon Valley companies including his years as the founder/CEO of BEA Systems. He founded BEA Systems in 1995 and was chairman and CEO of the company from its founding through October 2001, during which time BEA became the fastest software company to reach a billion dollars in annual revenue. Following BEA, he was founder, chairman and CEO of Cassatt, Inc. an enterprise cloud software company which was acquired by CA, Inc. in 2009, and has been a partner with Alsop Louie Partners, an early stage Silicon Valley venture capital firm, since 2010. During this time, he was also chairman and CEO of Resilient Network Systems, a cyber security software company from Feb 2012 until Dec 2013. Prior to BEA, Bill held various management positions at Sun Microsystems, Inc., where he co-founded Sun Federal; founded Sun Professional Services; and was VP system software, where he led the initial development of Solaris and related products. He began his career in the USAF as chief of satellite operations, office of the secretary.

He holds a bachelor’s degree in computer science from the U. S. Air Force Academy and master’s degrees in computer science and computer engineering from Stanford University. He also holds an honorary doctorate from the University of Colorado, where he founded the Coleman Institute for Cognitive Disabilities. He is a member of the board of directors of Seagate, Avni Networks, Sapho, Virtual Power Systems, Dreamfactory, and iControl. Coleman is a commissioner of the Trilateral Commission and a Trustee of Santa Clara University.

“IT leaders continue to face constrained IT budgets while businesses and consumers alike continue to create data unabated. Successful IT organizations must not only identify simple and cost-effective solutions to manage their company’s information but also support the use of information for their company’s competitive advantage,” said Laura DuBois, group VP, enterprise storage, server and infrastructure software, IDC. “As an established and trusted information management company, Veritas provides the critical solutions to help its customers gain that competitive advantage.”  

(1) Source: Gartner, Inc., Magic Quadrant for Enterprise Backup Software and Integrated Appliances, Dave Russell, Pushan Rinnen, Robert Rhame, June 15, 2015
(2) Source: Gartner, Inc., Magic Quadrant for Enterprise Information Archiving, Alan Dayley, Garth Landers, Anthony Kros, October 29, 2015.

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