Hubbry Logo
Veritas TechnologiesVeritas TechnologiesMain
Open search
Veritas Technologies
Community hub
Veritas Technologies
logo
7 pages, 0 posts
0 subscribers
Be the first to start a discussion here.
Be the first to start a discussion here.
Veritas Technologies
Veritas Technologies
Veritas Technologies
View on Wikipedia
from Wikipedia

Veritas Technologies LLC is an American international data management company headquartered in Santa Clara, California. The company has its origins in Tolerant Systems, founded in 1983 and later renamed Veritas Software. It specializes in storage management software including the first commercial journaling file system, VxFS, VxVM, VCS, the personal/small office backup software Backup Exec and the enterprise backup software, NetBackup. Veritas Record Now was an early CD recording software.

Key Information

Before merging with Symantec (now known as Gen Digital) in 2004, Veritas was listed on the S&P 500 and the NASDAQ-100 under the VRTS ticker symbol.

In 2014, Symantec announced that it would demerge its information management business as Veritas Technologies LLC, to focus on security. It was purchased as part of the demerger by the private equity firm The Carlyle Group for $8 billion in cash in 2016.[1] Its data protection and data security unit was sold in 2024 to software firm Cohesity, valued at $3 billion. Remaining part of Veritas Technologies later spun-off into an independent company called Arctera.

History

[edit]

Early history

[edit]

The company was founded by Eli Alon and Dale Shipley (both from Intel) as Tolerant Systems in 1983 to build fault-tolerant computer systems based on the idea of "shoe box" building blocks. The shoe box consisted of an OS processor, running a version of Unix called TX, and on which applications ran, and an I/O processor, running a Real Time Executive, developed by Tolerant, called RTE: both processors were 320xx processors. The system was marketed as the "Eternity Series."[2]

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 of the disk drive content.

Logo as Veritas Software

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.

The firm started out with a relationship with AT&T to provide the file (Veritas File System – 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

[edit]

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

  • Tidalwave Technologies Acquisition: In 1995 the company acquired Tidalwave Technologies, a small San Francisco–based company for $4.2 million in stock. Tidalwave specialized in cross-platform High Availability (HA) Software and thus entered the HA business.
  • OpenVision Acquisition: In 1997 the company acquired OpenVision Technologies, another public company of the same size, and thus entered the backup business. Although the company only retained $20 million of OpenVision's 1996 base, it completed the 1997 year at $120 million. It was during this high growth period that the Veritas Board decided to consolidate the various business locations into a 550,000 sq ft facility in Mountain View, CA. Ernst & Young Consultants led by David Bentley as the project manager were brought in to lead this effort and soon hired HOK as the architect and Rudolf and Sletten as the general contractor. The new facility was completed in 2000.
  • Seagate NSMG Acquisition: The company achieved $200 million in 1998, and in 1999 acquired the backup business from Seagate Software, which was also approximately $200 million in 1998. In 1999 the combined company achieved revenues of $700 million, and became the undisputed leader in the Storage Management Software industry. In 2000 the company achieved revenues of $1.2 billion, was added to the S&P 500, became a Fortune 1000 company, and became the tenth largest software company in the world by revenues, and third largest by market capitalization.
  • Internet Bubble: In 2001 the industry went through a major downturn as the internet bubble burst. Nonetheless the company was able to achieve revenue growth of 25% to $1.5 billion, and operating margins of 25%.
  • Growth of 42X: Through this accelerated growth, Veritas went from a $36 million company to a $1.5 billion company, a growth multiple of 42X in five years.
  • April 1997 – Acquired OpenVision Technologies. This included NetBackup.
  • May 1999 – Acquired the Network and Storage Management Group of Seagate Software. This included Backup Exec.
  • August 2003 – Acquired Israel's Precise Software Solutions, one of the Application Performance Management (APM) leaders,[3] for about $400 million in cash and 7.4 million shares of its stock for a total of about $609 million.[4]

2004–2014: Merger with Symantec

[edit]

In 1998, Veritas decided to consolidate most of its offices to one corporate headquarters in Mountain View and hired Ernst and Young to plan the new 550,000 sq ft facility. David Bentley of EY led the team to hire HOK as the architect and Rudolf and Sletten as the general contractor. The new facility was completed in 2001 along the new light rail facility. On December 16, 2004, Veritas and Symantec announced their plans for a merger in a deal valued at $13.5 billion. The deal created the fourth-largest software firm in the world to date.[5] Veritas and Symantec's shareholders approved the merger on June 24, 2005, and it was completed on July 2.

2014–2016: Demerger

[edit]

On October 10, 2014, Symantec announced it planned to split the company into two parts.[6] The security business would remain with Symantec, and the information management business would be known as Veritas Technologies Corporation. The separation of the companies was completed on January 29, 2016.[7]

On August 11, 2015, Symantec announced the sale of its Veritas information management business to The Carlyle Group.[8] Veritas and Symantec achieved operational separation on October 1, 2015. The sale completed on January 30, 2016, when Veritas became a privately held company.[8][9] The sale to go private was for $8 billion, and represented a mark-down on Symantec stock.[10]

2016: The new beginning

[edit]

After the demerger from Symantec in 2016, Veritas rebranded itself as Veritas Technologies LLC. with a new logo. As CEO, Bill Coleman was able to transform the company to have "a startup, win-in-the-marketplace, customer-first culture" during the two-year turnaround.[11] On January 28, 2018, Veritas Technologies LLC. named Greg Hughes as its CEO.[12] With a new brand and a new CEO, Veritas Technologies planned to move its employees to its new headquarters in Santa Clara by the end of summer 2018.[13] In September 2020, Veritas Technologies LLC acquired Los Angeles–based software company Globanet.[14]

2024: Merger of data protection and data security unit with Cohesity

[edit]

Cohesity acquired Veritas' data protection and data security unit (including Veritas Alta and NetBackup) in February 2024 for a deal valued at $7 billion, with Veritas being valued in the deal at $3 billion as per a Reuters report.[15][16] The acquisition was completed in December 2024.[17] There were some remaining parts of Veritas that Cohesity did not acquire, among them Backup Exec, data compliance, data governance, and InfoScale. These non-Cohesity businesses were separated into an independent company called Arctera, which continued ownership by The Carlyle Group,[18][19] until Arctera's sale to Cloud Software Group in August 2025.

Products and services

[edit]

The following list includes products and services of Veritas Technologies before the Cohesity acquisition and the spin-off of Arctera.

  • Veritas Alta
  • Access
  • VxFS and VxVM
  • NetBackup
  • NetBackup Appliances
  • Backup Exec
  • Cluster Server (VCS)
  • Enterprise Vault
  • Volume Replicator (VVR)
  • SANPoint
  • eDiscovery Platform
  • APTARE IT Analytics
  • CloudPoint
  • SaaS Backup
  • Desktop and Laptop Option
  • Flex Appliance
  • Information Studio
  • Data Insight
  • Veritas InfoScale, data management such as HyperScale for OpenStack
  • Resiliency Platform
  • Hubstor[20]

Lawsuits

[edit]

In 1999, VERITAS Software Corp. (VERITAS US) and VERITAS Ireland entered into a cost-sharing agreement (CSA) which was the subject of litigation with the U.S. Internal Revenue Service.[21]

See also

[edit]

References

[edit]
[edit]
Revisions and contributorsEdit on WikipediaRead on Wikipedia

Veritas Technologies

View on Grokipedia
from Grokipedia
Veritas Technologies LLC was an American multinational company that specialized in data protection, backup, recovery, storage management, and multi-cloud data solutions. Headquartered in , and founded in 1983 as Tolerant Systems by former employees, the company developed pioneering file systems and volume managers before evolving into a leader in . Prior to its 2016 spin-off from Symantec Corporation, where it had operated as Symantec's enterprise security and division since , Veritas served over 80,000 customers worldwide, including 86% of 500. The company's key products included NetBackup for data backup and recovery and InfoScale for storage and high-availability solutions, which were instrumental in addressing enterprise challenges like protection, , and compliance across hybrid and multi-cloud environments. Veritas pioneered innovations in disk-based backup and virtualization-aware protection, guiding organizations through technological shifts including the rise of and AI-driven threats over its four-decade history. In December 2024, Veritas's enterprise data protection business combined with in a transaction valuing the combined entity at approximately $7 billion, forming the world's largest data protection software provider by revenue and enhancing its AI-powered security and management capabilities, while preserving the brand for key offerings like NetBackup integrated into a unified platform serving 70% of the Global 500 and protecting over 200 exabytes of data. Concurrently, other Veritas assets were spun off to form Arctera, an independent company focused on data compliance, , and InfoScale, which was acquired by Cloud Software Group in August 2025.

History

Origins and early development (1983–2003)

Veritas Technologies traces its origins to Tolerant Systems, founded in 1983 by former employees Eli Alon and Dale Shipley in . The company initially focused on developing software for Unix systems, addressing the need for fault-tolerant storage solutions in early enterprise computing environments. In 1989, Tolerant Systems underwent a and was renamed Software Corporation, marking a strategic shift toward advanced and volume management tools to support growing demands on Unix platforms. This reorientation positioned the company as a specialist in storage software, emphasizing reliability and performance for mission-critical applications. Key early products emerged during the 1990s, solidifying Veritas's technical foundation. The Veritas File System (VxFS), an extent-based designed for high-performance data access, was released in 1991. This was followed by the Veritas Volume Manager (VxVM) in 1993, which provided dynamic volume management capabilities including online resizing and mirroring for Unix storage arrays. In 1995, Veritas introduced the (VCS), enabling high-availability clustering to minimize downtime in distributed environments. These innovations addressed core challenges in and availability, becoming staples for Unix-based enterprises. Organic growth accelerated through the mid-1990s, with Veritas achieving an (IPO) on the under the VRTS in 1993, valuing the company at approximately $64 million. Revenue expanded rapidly amid the dot-com boom, reaching $121 million in 1997 and surpassing $1 billion by 2000 ($1.2 billion), driven by demand for robust storage management in expanding infrastructure. By the early 2000s, Veritas held a dominant position in Unix storage software, serving over 86% of companies and ranking among the top global software firms by . Strategic acquisitions complemented this growth. In 1997, acquired OpenVision Technologies for about $400 million, integrating its NetBackup software to enhance enterprise backup capabilities across heterogeneous environments. The 1999 acquisition of Seagate Software's Network and Storage Management Group for $1.6 billion further broadened 's portfolio, adding tools like and expanding multiplatform support. These moves reinforced 's leadership in storage management during the late 1990s technology surge, setting the stage for broader enterprise adoption before its eventual merger with Symantec in 2005.

Merger with Symantec and integration (2004–2014)

In December 2004, Symantec Corporation announced its intention to acquire Software Corporation in an all-stock transaction valued at $13.5 billion, aiming to combine Symantec's expertise with 's storage management capabilities. The merger, approved by shareholders in June 2005, was completed on July 2, 2005, integrating into Symantec and establishing a dedicated storage and management business unit within the combined company. This unit focused on leveraging synergies between data protection, , and technologies to address enterprise needs for . The integration process involved consolidating operations, with Veritas's existing headquarters in , serving as a key site for the merged entity's storage division activities alongside Symantec's Cupertino base. To streamline the combined organization, which employed over 18,000 people globally, Symantec initiated cost reductions, including layoffs affecting approximately 400 Veritas employees in early 2005 and further workforce adjustments post-merger to eliminate redundancies. Regulatory approval was secured from the on March 15, 2005, without requiring divestitures, as the merger posed no significant competition concerns in relevant markets such as and archiving software. Under Symantec, key products evolved to incorporate security features, with NetBackup—originally acquired by from OpenVision Technologies in 1997—advancing into a comprehensive enterprise backup and recovery suite supporting distributed environments and . In 2007, Symantec launched Enterprise Vault 7.0, an archiving solution that integrated 's storage technologies with Symantec's compliance tools to manage like emails and files. The storage and availability segment experienced revenue growth initially but faced headwinds from the , prompting cost-cutting measures such as reduced R&D and marketing expenses; by fiscal 2010, this segment generated approximately $2.0 billion in revenue, reflecting a decline from prior years due to economic pressures and market shifts. Leadership transitions marked the period, with Veritas executives like CEO Gary Bloom departing post-merger, as Symantec shifted the product roadmap toward unified security-storage solutions to enhance enterprise data protection. Foundational Veritas technologies, such as the Veritas File System (VxFS), continued to underpin these developments, providing scalable storage foundations for the integrated offerings.

Demerger from Symantec (2014–2016)

In October 2014, Symantec announced its intention to separate its information management business, encompassing the Veritas portfolio, from its core security operations into two independent publicly traded companies, a move driven by ongoing investor pressure to enhance shareholder value by allowing each unit to pursue focused strategies. This decision followed years of calls from analysts and shareholders for a breakup, citing the divergent growth trajectories of Symantec's antivirus software and Veritas's data storage and recovery offerings. Initially planned as a tax-free spin-off targeted for completion by late 2015, the structure evolved amid market conditions. By August 2015, Symantec shifted to an outright sale, entering a definitive agreement to divest to a private equity-led consortium headed by and including GIC, Singapore's , for $8 billion in cash. The transaction, which required to assume substantial debt as part of the financing, was renegotiated in 2016 to $7.4 billion due to financing challenges and market uncertainties, with Symantec retaining a minority equity stake valued at $400 million and receiving approximately $5.3 billion in after-tax proceeds. The deal closed on January 29, 2016, following regulatory clearances, including early termination of the Hart-Scott-Rodino waiting period by the U.S. in September 2015. Throughout the process, both companies emphasized seamless customer transitions, with no disruptions to support or services during the operational separation. The demerger enabled Veritas to operate independently with around 8,000 employees transferred from Symantec, preserving key talent and infrastructure. Leadership transitioned immediately upon closing, with Bill Coleman appointed as CEO and Bill Krause as chairman, both experienced technology executives tasked with steering the company. Veritas relocated its headquarters to , its original base before the Symantec merger, to foster a renewed focus on innovation in . In the immediate aftermath, Veritas rebranded as Veritas Technologies LLC in early 2016, unveiling a new logo and positioning itself as a pure-play provider of enterprise data protection, , and recovery solutions to capitalize on multi-cloud and hybrid environments.

Independent operations and expansions (2016–2023)

Following its from Symantec, Veritas Technologies operated as an independent entity under the leadership of CEO Bill Coleman, who was appointed in February 2016 to drive the company's focus on multi-cloud and resilience amid growing data challenges. Coleman, a seasoned executive, steered Veritas toward transforming its legacy on-premises backup and recovery offerings into a comprehensive multi-cloud , emphasizing proactive strategies for data protection across hybrid environments. In fiscal year 2017, Veritas reported a 7.87% year-over-year revenue growth, solidifying its position as the worldwide leader in and recovery software, with the highest total revenue among vendors. This period marked significant expansion into hybrid cloud capabilities, highlighted by the launch of the Veritas Resiliency Platform in August 2017, a unified solution designed to automate recovery and maintain uptime across private, , and hybrid clouds. The platform integrated with major cloud providers like AWS and , enabling organizations to orchestrate data protection and disaster recovery in multi-cloud setups. Veritas further strengthened its ecosystem through strategic partnerships, including its alliance with Infinidat announced around 2020, which integrated Infinidat's storage hardware with ' NetBackup and InfoScale software for enhanced data protection and high-availability solutions in enterprise environments. The company also enhanced its flagship NetBackup product with ongoing improvements, such as better integration for virtualized workloads and cloud-native recovery features released between 2017 and 2022, supporting faster and more efficient data restoration across diverse infrastructures. By 2022, these initiatives contributed to ' global expansion, serving over 80,000 customers worldwide, including 87% of Global 500, who relied on its solutions for data protection and compliance. During the , Veritas adapted its operations to support and heightened data demands, implementing global response measures that included enhanced tools for secure in distributed environments and telemedicine applications. This involved bolstering cloud-based protection features in products like NetBackup to address increased remote access risks and ensure business continuity for customers shifting to hybrid work models. Veritas also advanced its sustainability efforts during this era, committing to environmental, social, and governance (ESG) principles with initiatives like carbon-neutral appliance shipping starting in 2023, as part of broader strategies to reduce its environmental impact and support customers in achieving net-zero emissions goals.

Reorganization, merger with , and spin-off of Arctera (2024–2025)

In February 2024, Veritas Technologies announced a merger between its enterprise data protection business, including products such as NetBackup and Alta Data Protection, and , valuing the combined entity at $7 billion and receiving unanimous board approval from both companies. The merger was completed on December 10, 2024, with absorbing ' enterprise data protection assets to form a unified organization serving more than 12,000 customers worldwide, including over 85 of the 100. On the same date, spun off its remaining assets—comprising , InfoScale, and Enterprise Vault—into an independent company named Arctera, led by CEO . Arctera launched as a standalone entity focused on small and medium-sized business (SMB) backup solutions, data compliance, and information governance, supported by dedicated sales and research and development teams to maintain continuity for its customer base. In August 2025, Cloud Software Group announced its acquisition of Arctera for an undisclosed amount, funded by cash reserves, with the deal expected to close in the fourth quarter of 2025 pending regulatory approvals; this move integrates Arctera's units into Cloud Software Group's broader cloud and data management portfolio. These transactions marked the effective dissolution of Veritas Technologies as an independent , redistributing its core assets to for enterprise-scale data protection and to Cloud Software Group via Arctera for SMB and compliance-focused offerings.

Products and services

Enterprise backup and recovery solutions

Veritas Technologies was a leader in enterprise and recovery, offering robust solutions designed for large-scale, hybrid, and multi-cloud environments. Its product, NetBackup, originated from the acquisition of OpenVision Technologies by , establishing it as a core platform for enterprise data protection since the late . NetBackup provided comprehensive and recovery capabilities, supporting multi-cloud infrastructures across AWS, Azure, and , with built-in deduplication to optimize storage efficiency and reduce costs. The platform's version 10, released in 2022, introduced advanced ransomware resilience through a three-pronged : protection via immutable backups and , detection using AI-driven anomaly analysis and automated scanning, and recovery with zero-trust access and last-known-good restore points. This enabled enterprises to handle petabyte-scale data with policy-based automation and cyber resilience testing, ensuring minimal downtime in disaster scenarios. Complementing NetBackup, Veritas Alta Data Protection, launched in 2022 as part of the broader Alta cloud data management platform, focused on cloud-native backups for hyperscale environments like AWS and Azure. It featured immutable storage through the integrated Recovery Vault for air-gapped data retention, alongside zero-trust security models incorporating (MFA) and (SSO) for secure access. The solution employed AI-powered automation for , malware scanning, and flexible recovery options, supporting over 60 cloud workloads with elastic scaling to manage dynamic resource needs efficiently. This made it ideal for enterprises seeking cost-optimized protection, potentially reducing cloud snapshot storage expenses by up to 90% through intelligent data tiering. For continuous data replication and disaster recovery, Veritas offered Replication Exec, a Windows-based tool integrated with NetBackup to enable in hybrid setups. This solution supported policy-driven replication to multiple destinations, facilitating continuity by minimizing during outages and allowing seamless in enterprise environments. Key features across these products included automated for petabyte-level , integrated threat hunting, and military-grade , providing end-to-end resilience against cyber threats. ' backup solutions demonstrated market leadership, earning recognition as a Leader in the 2024 Gartner for Enterprise Backup and Recovery Software Solutions for the 19th consecutive time. In December 2024, these assets were transferred to as part of a merger valuing the enterprise at approximately $7 billion, with the brand preserved for key offerings like NetBackup now integrated into Cohesity's platform. Prior to the transfer, they protected hundreds of exabytes of for more than 10,000 enterprise customers worldwide.

Data management and storage software

Veritas File System (VxFS) was an advanced designed primarily for Unix and environments, offering robust through intent that records metadata changes before they are committed to disk. Introduced in 1991 as part of ' early storage solutions, VxFS supported dynamic storage tiering via features like SmartTier, which automatically migrated between storage tiers based on access patterns to optimize and . It also enabled multi-host through mechanisms such as the Cluster File System (CFS) and Flexible Storage Sharing (FSS), allowing concurrent access across multiple nodes in a cluster for applications requiring shared environments. Complementing VxFS, Veritas Volume Manager (VxVM) provided capabilities, abstracting physical storage into flexible volumes that supported configurations, including mirroring (RAID-1) for data redundancy and RAID-5 for parity-based protection. VxVM facilitated online resizing of volumes without , enabling administrators to expand or shrink storage dynamically as needs evolved, and included snapshotting features for point-in-time copies that supported rapid backups and testing scenarios. Integrated with (VCS), VxVM enhanced clustering by managing shared volumes across nodes, ensuring seamless and data consistency in multi-system setups. In 2015, launched InfoScale, a comprehensive suite that integrated VxFS and VxVM with high-availability components from VCS to deliver resilient storage and application management for mission-critical workloads. InfoScale enabled software-defined , allowing organizations to abstract and optimize infrastructure for databases, virtualization platforms, and enterprise applications while maintaining operational continuity. The suite supported cross-platform environments, including , Unix, and Windows, and provided features like replication and caching to minimize latency and . Backup Exec, originally developed in the 1990s for small to medium-sized businesses (SMBs), offered backup capabilities tailored for Windows and macOS environments, focusing on efficient data protection for physical, virtual, and workloads. It incorporated deduplication to reduce storage requirements by eliminating redundant data blocks during backups and supported cloud tiering to automatically move less frequently accessed data to cost-effective storage targets. integrated with broader solutions like NetBackup for enhanced recovery options in hybrid setups. Technically, VxFS accommodated volumes up to 256 terabytes, leveraging extent-based allocation for efficient large-scale storage handling, while VCS delivered cross-platform clustering with targeting up to 99.999% uptime through rapid fault detection and automated resource . During Veritas' independent operations (2016–2023), its technologies, including VxFS and VxVM within InfoScale, were adopted by approximately 91% of Fortune 100 companies for managing critical data infrastructures. In December 2024, these products—InfoScale, , and related storage technologies—were spun off to form Arctera, an independent company focused on , cyber resiliency, and compliance. As of August 2025, Arctera was announced for acquisition by Software Group, expected to close in the fourth quarter of 2025.

Information governance and compliance tools

Veritas Technologies provided a suite of and compliance tools designed to manage , mitigate risks, and ensure adherence to regulatory standards such as GDPR and HIPAA. These solutions focused on long-term archiving, analytics for , and access controls, enabling organizations to maintain defensible data practices without overlapping with primary storage or recovery functions. The flagship tool, Enterprise Vault, was an archiving platform introduced in 2003 that supported email and file retention across multiple sources, including Exchange and Domino. It employed deduplication through single-instance storage to minimize redundancy, alongside advanced search capabilities for quick retrieval of archived content. Enterprise Vault facilitated compliance by enforcing retention policies and supporting legal holds, helping organizations meet requirements for data privacy and e-discovery. Veritas Data Insight served as an analytics tool for classifying unstructured data, assessing risks, and enabling defensible deletion to reduce storage bloat and exposure. It scanned file systems to identify sensitive information, ownership, and usage patterns, providing insights into data lifecycle management and potential compliance gaps. Enhanced with AI-driven features in releases since 2018, including improved classification engines for anomaly detection and remediation recommendations, Data Insight integrated with broader governance workflows to prioritize high-risk assets. Complementing these, Veritas Access Governance integrated identity and access management to enforce least-privilege principles in data environments, ensuring users only interacted with authorized information during governance processes. This included role-based controls and monitoring to prevent unauthorized access to archived or classified data, aligning with overall compliance strategies. Key capabilities across these tools included single-instance storage, which could reduce archival footprints by up to 90% through deduplication and compression, and forensic search functionalities with (OCR) support for processing scanned documents in scenarios. These features enabled efficient handling of vast datasets while maintaining audit trails for regulatory audits. Scalability was bolstered by underlying storage foundations like VxFS, which supported petabyte-scale operations. In terms of market impact, ' governance tools enabled customers to manage over 100 petabytes of archived , supporting compliance for enterprises with diverse regulatory needs. The company was recognized as a leader in information archiving by the Radicati Group Market Quadrant for 2023, highlighting its strengths in enterprise solutions. These tools formed part of the Data Compliance & business spun off to Arctera in December 2024, where they continue to evolve with AI enhancements, including a platform rebrand in January 2025. Arctera's acquisition by is pending closure in Q4 2025.

Corporate affairs

Leadership and key executives

Veritas Technologies traces its origins to Tolerant Systems, founded in 1983 by Eli Alon and Dale Shipley, former employees who developed software utilities for AT&T's Unix operating system. The company was renamed Veritas Software Corporation in 1989 to reflect its focus on delivering "truth" in data reliability through storage management solutions. Mark Leslie served as CEO from 1990 to 2001, a period marked by rapid growth from 12 employees to over 6,000 and annual revenues exceeding $1.5 billion. Under Leslie's leadership, Veritas achieved its on the in 1993, solidifying its position as a pioneer in , recovery, and storage software. Gary Bloom assumed the role of CEO in late 2000 and led Veritas until 2005, emphasizing enterprise scalability and market expansion. Bloom's strategic direction facilitated the company's acquisition by Symantec Corporation in 2005 for $13.5 billion, integrating Veritas' technologies into Symantec's broader portfolio despite later challenges in synergy. During Symantec's ownership from 2005 to 2016, Veritas operated as a division, with key decisions influenced by Symantec's top executives. Michael Brown, Symantec's CEO from 2014 to 2018, oversaw the strategic of Veritas in 2016, selling it to a consortium led by for $7.4 billion to refocus Symantec on cybersecurity. Post-demerger, Bill Coleman became CEO in January 2016, bringing expertise from founding and Cassatt to emphasize operational resiliency and independence. Coleman's tenure until early 2018 involved restructuring Veritas as a standalone entity, enhancing its data protection offerings amid ownership. succeeded as CEO in January 2018, leveraging prior roles at Symantec and as CEO of Serena Software to drive a pivot toward cloud-native solutions and multi-cloud . Hughes led expansions in AI-driven resilience and cyber recovery until 2024, navigating economic pressures and culminating in the merger of Veritas' enterprise data protection business with . The 2024 transition featured interim stability under Hughes amid the merger announcement in February, which closed in December. Sanjay Poonen, 's president and CEO, assumed leadership of the combined $2 billion entity focused on AI-powered , with Hughes joining the board as a strategic advisor. Concurrently, Veritas spun off its remaining assets into Arctera, an independent firm, marking the end of Veritas Technologies as originally structured. The board has included influential representatives, such as Bill Krause, appointed Chairman in with prior CEO experience at and to guide governance during independence. Shawn Devilla, a Vice President at , has served on the board since , providing oversight on technology investments and strategic growth. Veritas' leadership team, comprising approximately 10 executives pre-merger, featured professionals with deep tech pedigrees from firms like and , supporting innovations in enterprise .

Headquarters, ownership, and financial overview

Veritas Technologies was founded in 1983 in Santa Clara, California, where it maintained its headquarters until its acquisition by Symantec Corporation in 2005. Following the acquisition, Veritas relocated its headquarters to Mountain View, California, aligning with Symantec's primary location. After its demerger and subsequent buyout in 2016, Veritas returned to Santa Clara, completing the move to its current facility at 2625 Augustine Drive in 2019 to support enhanced competitiveness in the Silicon Valley ecosystem. The company operates a global footprint with offices across more than 50 countries, serving over 80,000 enterprise customers worldwide. At its peak in 2023, Veritas employed approximately 7,600 people globally, with significant R&D operations in key locations including a major center in , , which serves as one of its largest development hubs focused on innovation in technologies. Veritas was publicly traded until its acquisition by Symantec in 2005 for $13.5 billion, after which it operated as a . In 2016, following a demerger from Symantec, the company was acquired by a led by and Singapore's GIC for $7.4 billion, transitioning it to private ownership. This structure persisted until 2024, when Veritas' data protection business merged with , Inc., and its remaining operations were spun off into the independent entity Arctera, distributing assets and operations to the respective investors without a standalone Veritas entity thereafter. In August 2025, Software Group announced its agreement to acquire Arctera, with the transaction expected to close in the fourth quarter of 2025 subject to regulatory approvals and customary closing conditions. Financially, Veritas achieved peak annual revenue of approximately $1.5 billion in 2023, reflecting its position as a leader in enterprise during its independent operations from onward. During this era, the maintained strong profitability with adjusted EBITDA margins in the range of 25-30%, driven by recurring software revenue and operational efficiencies. In 2020, Veritas refinanced about $2.6 billion in debt to extend maturities and improve liquidity amid market challenges. The 2024 merger valued Veritas' protection assets at over $3 billion (including debt), contributing to a combined Cohesity-Veritas entity valuation of $7 billion, while Arctera emerged as a separate handling the spun-off compliance and storage software units. The 2005 merger between Symantec and Veritas underwent antitrust review by the , which approved the transaction on March 15, 2005, under the EU Merger Regulation without raising serious doubts as to its compatibility with the common market. The review focused on horizontal overlaps in and software markets, where the combined entity would hold a [25-35]% share in the EEA, but concluded that strong competitors like and EMC mitigated any concerns, with no bundling or interoperability issues identified. No divestitures or concessions were required, allowing the deal to close in July 2005. In the United States, the merger received clearance from antitrust authorities, including the Department of Justice, enabling completion without challenges related to bundled storage and security sales or other competitive effects. The transaction, valued at $13.5 billion, proceeded after standard Hart-Scott-Rodino filings, reflecting regulators' assessment that it would not substantially lessen competition. The 2015 sale of from Symantec to a Carlyle-led group, valued at $8 billion, similarly faced no significant antitrust scrutiny from the FTC or other regulators, despite Veritas' position in the market. The deal closed in 2016 after routine reviews, with no blocks or extended monitoring imposed. Activist Elliott Management acquired a substantial stake in Symantec in early 2016, following the Veritas sale announcement, and advocated for strategic changes including enhanced shareholder returns, though it did not initiate formal litigation or proxy fights tied directly to the . The pressure contributed to Symantec's subsequent board and adjustments but was resolved amicably without court involvement. The 2024 combination of ' enterprise data protection business with , valued at $7 billion post-combination, received necessary regulatory approvals without notable antitrust challenges, closing on December 10, 2024. The asset-specific structure ensured a clean separation of ' portfolio, influencing the transaction's smooth regulatory path. All prior cases resolved without company dissolution, shaping conservative approaches to future deals like the merger.

Intellectual property and other disputes

Veritas Technologies has maintained a substantial portfolio, with over 1,000 U.S. and applications as of early 2025, many of which were transferred to as part of the company's 2024 merger and subsequent reorganization. This portfolio encompasses innovations in , , recovery, and technologies, reflecting Veritas's long-standing focus on enterprise solutions. In the 2024 split involving the merger with and the spin-off of Arctera, a significant portion of these was allocated to the respective entities to support their specialized operations in data protection and management. The company has been involved in several patent infringement disputes, both as plaintiff and defendant. In 2006, Symantec Corporation, which had acquired Veritas in 2005, filed a lawsuit against Microsoft Corporation in U.S. District Court in Seattle, alleging that Microsoft infringed Veritas patents related to data-storage clustering and volume management technologies through products like Windows Storage Server. The suit sought damages and an injunction; however, in a related counterclaim, a federal judge dismissed Veritas's allegations of patent infringement against Microsoft in 2008, while allowing claims of trade secret misappropriation and breach of contract to proceed to trial. Earlier, in 2003, Storage Computer Corporation sued Veritas Software Corporation in the U.S. District Court for the Northern District of Texas, claiming infringement of two patents related to systems. The case was stayed pending reexamination of one of the patents by the U.S. Patent and Trademark Office, and it ultimately resolved without a public trial outcome. More recently, in 2017, LLC initiated a action against Symantec and Veritas Technologies in the U.S. District Court for the District of , asserting that Symantec's Volume Replicator product infringed patents covering data replication and disaster recovery methods. Veritas responded by filing inter partes review petitions challenging the validity of the asserted patents. Veritas has also defended against infringement claims in other proceedings. In 2018, Realtime Data LLC sued Veritas and others in the U.S. District Court for the Northern District of , alleging infringement of patents related to data compression technologies used in Veritas's backup and deduplication software. Veritas countered by petitioning for inter partes review at the Patent Trial and Appeal Board, successfully invalidating several claims in 2019, which led to the Federal Circuit affirming aspects of the board's decisions. Beyond intellectual property, Veritas has faced other legal disputes, including contract breaches and securities-related actions. In the early 2000s, Veritas Software Corporation was embroiled in a securities fraud investigation by the U.S. Securities and Exchange Commission, which alleged that the company manipulated earnings and overstated revenue through improper practices from 2000 to 2003. The SEC filed a civil in , resulting in a $30 million penalty settlement in 2007, without admitting or denying wrongdoing; a related class-action securities lawsuit proceeded through appeals until settling for $35 million in 2008. More recently, Veritas has encountered employment-related contract disputes. In 2021, a former software contract manager filed suit against Veritas Technologies LLC in the U.S. District Court for the District of , claiming breach of contract over unpaid commissions and violations of the Maryland Wage Payment and Collection Law. The court denied Veritas's motion to dismiss in 2022, allowing the claims to advance, with the plaintiff arguing that commissions vested upon customer payment despite Veritas's termination policies. As of November 2025, the case resulted in summary judgment for Veritas and is currently on appeal. Similarly, in another 2021 case in the U.S. District Court for the Northern District of New York, former employees alleged breach of employment contracts involving incentive compensation, with the court partially granting and denying Veritas's dismissal motion based on jurisdictional variations in contract law requirements; the case remains pending as of 2025. These cases highlight ongoing tensions in Veritas's compensation structures amid its corporate transitions.

References

  1. https://www.crunchbase.com/organization/veritas-technologies
  2. https://www.veritas.com/news-releases/2024-04-23-veritas-strengthens-cyber-resilience-with-new-ai-powered-solutions
  3. https://www.zoominfo.com/c/veritas-technologies-llc/126812435
  4. https://www.carlyle.com/media-room/news-release-archive/carlyle-group-closes-veritas-acquisition
  5. https://www.veritas.com/
  6. https://www.cohesity.com/newsroom/press/cohesity-becomes-worlds-largest-data-protection-provider-after-completing-combination-with-veritas-enterprise-data-protection-business/
  7. https://www.cohesity.com/newsroom/press/cohesity-and-veritas-data-protection-business-to-combine-forming-a-new-leader-in-ai-powered-data-security-and-management/
  8. https://www.arctera.io/press-releases/arctera-completes-separation-from-veritas-technologies
  9. https://blocksandfiles.com/2025/08/06/veritas-remnant-arctera-bought-by-cloud-software-group/
  10. https://www.arctera.io/company
  11. https://www.fundinguniverse.com/company-histories/veritas-software-corporation-history/
  12. https://www.encyclopedia.com/books/politics-and-business-magazines/veritas-software-corporation
  13. https://www.redbooks.ibm.com/redbooks/pdfs/sg246619.pdf
  14. https://www.cantechletter.com/2023/11/companies-that-had-their-ipo-in-1993/
  15. https://www.storagenewsletter.com/2019/03/27/history-all-acquisitions-of-veritas/
  16. https://www.latimes.com/archives/la-xpm-1997-01-14-fi-18350-story.html
  17. https://www.computerworld.com/article/1705195/symantec-and-veritas-merge-in-deal-valued-at-13-5-billion.html
  18. https://www.cnet.com/tech/tech-industry/symantec-closes-veritas-merger/
  19. https://www.sec.gov/Archives/edgar/data/849399/000095012310052086/f55691e10vk.htm
  20. https://www.nytimes.com/2005/06/25/technology/shareholders-approve-symantecveritas-software-merger.html
  21. https://www.cnet.com/tech/tech-industry/veritas-layoffs-will-be-limited/
  22. https://ec.europa.eu/competition/mergers/cases/decisions/m3697_20050315_20310_en.pdf
  23. https://vox.veritas.com/blog/backup-and-recovery-community-blog/history-of-netbackup---good-to-know/782767
  24. https://www.cnet.com/tech/services-and-software/symantec-unveils-vault-for-enterprise-storage/
  25. https://www.theregister.com/2009/10/29/symantec_q2_fy2010/
  26. https://www.crn.com/news/security/165600530/symantec-seals-deal-with-veritas
  27. https://www.techtarget.com/searchdatabackup/definition/Symantec-NetBackup
  28. https://www.bloomberg.com/news/articles/2014-10-09/symantec-to-split-into-storage-security-companies
  29. https://www.reuters.com/article/business/symantec-to-split-into-security-and-storage-software-companies-idUSKCN0HY2D3/
  30. https://www.carlyle.com/media-room/news-release-archive/carlyle-group-purchase-veritas-symantec-8-billion
  31. https://www.reuters.com/article/technology/symantec-to-get-1-billion-less-cash-in-sale-of-veritas-to-carlyle-idUSKCN0UY065/
  32. https://www.ftc.gov/legal-library/browse/early-termination-notices/20151585
  33. https://www.veritas.com/news-releases/2015-12-21-symantec-and-the-carlyle-group-plan-to-close
  34. https://www.siliconvalley.com/2017/11/20/veritas-moving-headquarters-hundreds-of-workers-to-santa-clara/
  35. https://www.veritas.com/news-releases/2016-02-01-newly-independent-veritas-re-launches
  36. https://siliconangle.com/2018/01/08/veritas-taps-new-ceo-saying-two-year-turnaround-complete/
  37. https://www.veritas.com/en/aa/news-releases/2018-06-26-veritas-is-named-worldwide-market-share-leader-by-gartner-in-backup-and-recovery-software-archiving-software-and-management-software-defined-storage-for-2017-by-revenue
  38. https://www.veritas.com/support/en_US/downloads/detail.REL617990
  39. https://www.veritas.com/news-releases/2017-02-15-veritas-announces-new-technology-alliance-with-aws-cloud-for-enterprises
  40. https://www.infinidat.com/en/partners/alliances/veritas
  41. https://www.cohesity.com/platform/netbackup/latest-features/
  42. https://www.veritas.com/news-releases/2022-06-09-veritas-technologies-unveils-2022-partner-of-the-year-winners-for-the-americas
  43. https://www.veritas.com/content/support/en_US/covid-19-global-response-action
  44. https://www.veritas.com/es/es/form/webinar/addressing-covid-19-telemedicine-and-remote-work-demands
  45. https://www.veritas.com/company/environmental-social-governance
  46. https://www.veritas.com/blogs/carbon-neutral-veritas-appliance-shipping-now-standard-starting-earth-day
  47. https://www.crn.com/news/security/2024/cohesity-to-acquire-veritas-unit-forming-7-billion-data-security-and-management-giant
  48. https://techcrunch.com/2024/12/10/cohesity-completes-its-merger-with-veritas-heres-how-theyll-integrate/
  49. https://www.crn.com/news/storage/2024/new-arctera-ceo-lawrence-wong-on-post-cohesity-veritas-merger-life-ai-and-channel-strategy
  50. https://www.arctera.io/press-releases/arctera-fy26-channel-program-offers-additional-rewards-for-partners-aligning-to-business-unit-strategy
  51. https://blocksandfiles.com/2024/12/11/cohesity-completes-veritas-netbackup-business-buy-with-arctera-emerging-as-the-new-backup-exec-business/
  52. https://www.cloud.com/news/press-release/2025/cloud-software-group-to-acquire-arctera
  53. https://finance.yahoo.com/news/cloud-software-group-acquire-arctera-100000562.html
  54. https://www.techtarget.com/searchdatabackup/news/366617112/Cohesity-completes-acquisition-of-Veritas
  55. https://www.cohesity.com/platform/netbackup/
  56. https://www.veritas.com/content/dam/www/ko/documents/at-a-glance/SB_netbackup_ransomware_solutions_V1506.pdf
  57. https://vastitservices.com/blog/why-upgrade-to-the-new-veritas-netbackup-10-features-benefits/
  58. https://www.veritas.com/content/dam/www/de/documents/data-sheet/DS_netbackup_V1512.pdf
  59. https://www.veritas.com/news-releases/2022-10-19-veritas-introduces-veritas-alta-the-industrys-most-comprehensive-cloud-data-management-platform
  60. https://www.cohesity.com/content/dam/cohesity/resource-assets/solution-brief/veritas_alta_baas.pdf
  61. https://www.veritas.com/content/dam/www/en_us/documents/data-sheet/DS_veritas_alta_data_protection_V1807.pdf
  62. https://securitybrief.co.uk/story/veritas-google-launch-new-data-protection-on-cloud-marketplace
  63. https://vox.veritas.com/discussions/replication-exec/what-is-replication-exec/11553
  64. https://biztechmagazine.com/article/2007/10/veritas-replication-exec-31
  65. https://www.veritas.com/news-releases/2024-08-07-veritas-named-a-leader-in-the-2024-gartner-magic-quadrant-for-enterprise-backup-and-recovery-software-solutions-for-the-19th-time
  66. https://www.bocada.com/company/blog-news/understanding-the-cohesity-veritas-merger/
  67. https://www.veritas.com/support/en_US/doc/79798461-159001405-0/v40218985-159001405
  68. https://www.veritas.com/content/support/en_US/doc/133045699-133045710-0/br74_v40229950-133045710
  69. https://www.veritas.com/support/en_US/doc/79638609-166315477-0/v83796872-166315477
  70. https://www.veritas.com/support/en_US/doc/52074765-52074945-0/uxrt-51sp1_id-SF170626632-52074945
  71. https://docs.oracle.com/cd/E19896-01/875-3115-10/875-3115-10.pdf
  72. https://www.veritas.com/support/en_US/doc/79798461-159001403-0/v45023908-159001403
  73. https://www.veritas.com/support/en_US/doc/ka6j0000000BM07AAG
  74. https://www.veritas.com/news-releases/2015-07-07-veritas-unveils-new-portfolio
  75. https://origin-www.veritas.com/content/dam/www/en_us/documents/white-papers/WP_infoscale_managing_mission_critical_applications_V0995.pdf
  76. https://vox.veritas.com/blog/backup_exec/experience-matters-backup-exec-16-and-microsoft/820478
  77. https://www.veritas.com/support/en_US/doc/59226269-162565443-0/v53929879-162565443
  78. https://www.veritas.com/support/en_US/doc/59226269-162565443-0/v124753650-162565443
  79. https://www.veritas.com/support/en_US/article.100047118
  80. https://public.dhe.ibm.com/software/data/cm/filenet/docs/isdoc/41x/VcsVvr.pdf
  81. https://www.veritas.com/content/dam/www/pt/documents/data-sheet/DS_netbackup_comparison_chart_V1067.pdf
  82. https://www.veritas.com/dataco-separation
  83. https://www.veritas.com/support/en_US/doc/115760147-164064558-0/v17827332-164064558
  84. https://www.veritas.com/en/aa/solution/analytics
  85. https://www.veritas.com/support/en_US/doc/140216460-166464200-0/v166514540-166464200
  86. https://www.veritas.com/content/dotcom/en_us/solution/compliance.html
  87. https://www.veritas.com/content/dam/www/en_us/documents/analyst-report/AR_radicati_information_archiving_market_quadrant_2022.pdf
  88. https://www.corporatecomplianceinsights.com/arctera-rebrands-data-compliance-platform/
  89. https://vista.ai/mark-leslie-former-veritas-ceo-chairman-joins-heartvista-board-of-directors/
  90. https://lonerganpartners.com/placements/president-ceo-gary-bloom-at-marklogic
  91. https://www.forbes.com/sites/richardstiennon/2020/03/16/the-demise-of-symantec/
  92. https://www.veritas.com/news-releases/2018-01-08-veritas-names-greg-hughes-as-chief-executive-officer
  93. https://origin-www.veritas.com/company/corporate-profile/board-of-directors
  94. https://www.datanyze.com/companies/veritas-technologies/126812435
  95. https://www.bizjournals.com/sanjose/news/2017/11/21/veritas-relocate-hq-santa-clara-from-mountain-view.html
  96. https://www.veritas.com/news-releases/2019-01-28-veritas-completes-headquarters-move-to-santa-clara
  97. https://www.veritas.com/en/aa/company/careers/our-locations
  98. https://pitchbook.com/profiles/company/42736-87
  99. https://www.newsvoir.com/release/veritas-inaugurates-new-facility-in-balewadi-pune-affirming-commitment-to-the-regional-tech-industry-and-recruitment-of-local-talent-20380.html
  100. https://www.spglobal.com/ratings/en/regulatory/article/-/view/type/HTML/id/3096900
  101. https://www.reuters.com/markets/deals/softbank-backed-cohesity-3-bln-deal-veritas-data-protection-unit-2024-02-08/
  102. https://www.computerworld.com/article/1713609/eu-clears-symantec-takeover-of-veritas.html
  103. https://www.crn.com/news/security/300079611/report-activist-investor-elliott-management-takes-large-stake-in-symantec
  104. https://www.iam-media.com/data/secondary-market-activity/secondary-market-activity/article/ai-powered-data-security-company-behind-februarys-largest-us-patent-transaction
  105. https://www.thestreet.com/technology/symantec-sues-microsoft-over-veritas-technology-10286735
  106. https://www.law360.com/articles/47917/microsoft-gets-veritas-infringement-claim-tossed
  107. https://ai-lab.exparte.com/case/dct/txnd/3:03-cv-00875/storage-computer-corp-v-veritas-software-corp
  108. https://www.patentdocs.org/2017/03/intellectual-ventures-llc-v-semantic-corporation-and-veritas-technologies-llc-d-del-2017.html
  109. https://www.govinfo.gov/app/details/USCOURTS-cand-3_18-cv-06029
  110. https://law.justia.com/cases/federal/appellate-courts/cafc/18-2200/18-2200-2019-12-06.html
  111. https://www.sec.gov/enforcement-litigation/litigation-releases/lr-20008
  112. https://ikrlaw.com/file/veritas-software-corp-securities-litigation/
  113. https://law.justia.com/cases/federal/district-courts/maryland/mddce/8:2021cv02750/502092/26/
  114. https://law.justia.com/cases/federal/district-courts/new-york/nyndce/1:2021cv00812/129540/38/
Add your contribution
Related Hubs
User Avatar
No comments yet.