Industry Reacts to Symantec-Veritas $8 Billion Buyout
Does it signal a big change in the dynamics of the cyber security market?
In the biggest tech buyout of the year so far, cyber security major Symantec recently announced its decision to sell its Data Storage business, Veritas, to private equity firm The Carlyle Group in an $8 billion deal. The decision has raised pertinent questions about the changing dynamics in the cyber security market across the world.
Reacting to the announcement, Commvault, a global leader in enterprise data protection and information management, reaffirmed its continued support to customers and partners. “The market is seeing significant changes, and customers need a trusted independent partner 100% focused on data management and customer success vs. corporate structure dynamics — that partner is Commvault,” said Mr Ron Miiller, Senior Worldwide Vice President, Commvault.
“Even with a sale and new ownership, Symantec/Veritas customers can expect a continued loss of focus and likely shifting product priorities. Customers should be concerned – especially ones looking to evolve data management strategies to move confidently to hybrid cloud environments. I can tell you that Commvault is 100% focused on data management and its customers’ success, unlike others who may be distracted,” he added.
IDC and Commvault recently released a report emphasizing on the need for a holistic data management strategy for organizations to ensure complete security for their key data assets. Commvault has been recognized in the Gartner “Leader’s Quadrant,” demonstrating its ability to ensure consistent delivery and vision in the face of rapidly changing market, continuing data and compliance requirements and traditional and new competitors. The company offers a wide range of data recovery solutions, all of which are designed to optimize on space and other resources, thereby helping the customer gain on multiple fronts.