Symantec in talks to sell Veritas storage unit to Carlyle: source

Reuters News
Posted: Jul 07, 2015 6:52 PM

(Reuters) - Software security company Symantec Corp <SYMC.O> is in talks to sell its Veritas data storage business to private equity firm Carlyle Group LP <CG.O>, a person familiar with the matter said on Tuesday.

The exact status of the talks could not be learned. Bloomberg News reported earlier that Symantec was nearing a deal to sell Veritas to Carlyle for between $7 billion and $8 billion, citing people with knowledge of the matter.

The Reuters source asked not to be identified because the negotiations are confidential. Symantec did not immediately respond to a request for comment, while Carlyle declined to comment.

Symantec has been seeking buyers for Veritas for several months but interest from potential buyers had been limited because of a tax burden associated with splitting the company. The company has plans to split in two, separating Veritas from Symantec, by January 2016.

(Reporting by Greg Roumeliotis in New York; Editing by Leslie Adler)