GIC, Carlyle-owned Veritas kicks off as independent entity

CEO says delivering on the promise of helping firms become more data-driven is the way forward

Published Mon, Feb 1, 2016 · 09:50 PM

Singapore

WITH Veritas Technologies formally starting out as a newly independent and private company from Tuesday, the company's CEO, Bill Coleman, is planning to use the company's strength in data management to take advantage of the exponential growth of data.

Veritas provides businesses with software and services to help them collect, protect, analyse and optimise their data. The company, which was set up in 1983, merged with security services provider Symantec in 2005. After a 10-year relationship that really didn't work out, Symantec and Veritas decided to part ways last year. Singapore's sovereign wealth fund GIC joined the Carlyle Group to buy Veritas from Symantec Corp for a final price of around US$7.4 billion.