Veritas Technologies

For other uses, see Veritas (disambiguation).
Veritas Technologies LLC
Private
Industry software industry
Founded 1989
Headquarters Mountain View, California, United States
Key people
Mark Leslie, CEO 1990 - 2000; Gary Bloom, CEO 2000 - 2005
Products VxSF (incl. VxFS and VxVM)
NetBackup
Backup Exec
Cluster Server (VCS)
Enterprise Administrator
Volume Replicator (VVR)
SANPoint
Enterprise Vault
Revenue $2.04 billion USD (2004)
Owner The Carlyle Group
Number of employees
7000
Website www.veritas.com

Veritas Technologies LLC is an American international software company that was founded in 1983 as Tolerant Systems, renamed Veritas Software Corp. in 1989, merged with Symantec in 2005, and was bought out by a equity firm in 2016. It was headquartered in Mountain View, California. The company specialized in storage management software including the first commercial journaling file system, VxFS, VxVM, VCS, the personal/small office backup software Backup Exec and the popular enterprise backup software, NetBackup. Veritas Record Now was an early CD recording software. Veritas was previously listed under the VRTS ticker symbol, but is now a privately owned company.

History

Early history

Tolerant Systems was founded in 1983 by Eli Alon and Dale Shipley (both from Intel) to build fault-tolerant computer systems based on the idea of a building block called a "show box". A shoe box consisted of an operating system processor, running a version of Unix called TX, and on which applications ran, and an I/O processor, running a real time executive (RTE), developed by Tolerant. Both processors were NS320xx processors. The system was marketed as the "Eternity Series."

The TX software gained a level of fault-tolerance through check-pointing technology. Applications needed to be fortified with this check-pointing to allow roll-back of the application on another processor if a hardware failure occurred. Tolerant also developed a forerunner of today's RAID systems by incorporating a journaling file system and multiple copies (which they called "N-plexing") the disk drive content.

Dale Shipley formed Tolerant Software in January 1988. Tolerant Software produced a journaling file system and a virtual disk management system for the AT&T UNIX platform, which was built by a new team led by John Carmichael. In 1989, Mark Leslie joined the company as CEO and renamed the company Veritas in honor of Harvard, his alma mater

The firm started out with a relationship with AT&T to provide the file ( Veritas File Manager - VxFS) and disk management (Veritas Volume Manager - VxVM) software for its Unix operating system, and to jointly market and support the products to the system OEMS (Sun, HP, etc.). The OEM model provided royalties to Veritas when the OEM shipped its products to end users.

On December 9, 1993 the company had its initial public offering (IPO), selling 16 million shares to the public, and valuing the company at $64 million.

Growth and Acquisitions

At the end of 1996 Veritas had revenues of $36 million.

Merger, and subsequent history

On December 16, 2004, Veritas and Symantec announced their plans for a merger in a deal valued at $13.5 billion. It was the largest announced software industry merger as that time. On June 24, 2005, Veritas and Symantec shareholders voted to approve the merger. On July 2, 2005, Symantec and Veritas finalized the merger and the resulting company retained the name Symantec.

On October, 10, 2014, Symantec announced the split of the company into two parts:[3] The security business remaining with Symantec., and the Information Management business to be known as Veritas Technologies Corporation. The separation of the companies was completed on January 29, 2016.[4]

On August 11, 2015 Symantec announced the sale of its Veritas information management business to The Carlyle Group. Veritas and Symantec achieved operational separation on October 1, 2015. The sale completed 30 January 2016 when Veritas became a privately held company.[5][6]

Lawsuits

In 1999, Veritas Software Corp. and Veritas Ireland entered into a cost-sharing agreement (CSA) which was the subject of litigation with the U.S. Internal Revenue Service. [7]

See also

References

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