other uses see veritas disambiguation . this article has multiple issues . please help improve it or discuss these issues on the talk page . learn how and when to remove these template messages this article needs additional citations for verification . please help improve this article by adding citations to reliable sources . unsourced material may be challenged and removed . september 2010 learn how and when to remove this template message this article includes a list of references but its sources remain unclear because it has insufficient inline citations . please help to improve this article by introducing more precise citations . september 2010 learn how and when to remove this template message learn how and when to remove this template message veritas technologies llc former type private industry software industry fate acquired by the carlyle group in 2016 founded 1989 defunct part of symantec from 2005 2016 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 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 . contents 1 history 1.1 early history 1.2 growth and acquisitions 1.3 merger and subsequent history 2 lawsuits 3 see also 4 references history edit early history edit tolerant systems was a company founded in 1983 by eli alon and dale shipley both from intel 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 . 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 or n plexing the disk drive content . dale shipley formed tolerant software in jan. 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 as 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 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 m 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 . 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 1 for about 400 million in cash and 7.4 million shares of its stock for a total of about 609 million . 2 merger and subsequent history edit for more details on this topic see veritas technologies . 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 . citation needed 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 10th 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 1 october 2015 . the sale completed 30 january 2016 when veritas became a privately held company . 5 6 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 . 7 see also edit veritas storage foundation enterprise vault symantec operations readiness tools sort netbackup references edit veritas buys pair of software firms . eweek . 2002 12 19 . boulton clint veritas closes precise software purchase internetnews.com june 30 2003 retrieved 2009 11 03 robertson jordon oct 10 2014 symantec to split into storage security companies bloomberg retrieved 2014 10 10 corporate press release symantec and the carlyle group plan to close acquisition of veritas january 29 2016 retrieved 2016 01 03 corporate press release symantec to separate into two focused industry leading technology companies retrieved 2015 08 12 corporate press release symantec and veritas separation pdf retrieved 2016 02 15 http scholar.google.com scholar case case 17681094442401642589 & q veritas software corp. v. commissioner & hl en & as sdt 6 48 & as vis 1 v t e symantec corporation people gary hendrix founder gordon eubanks 1990s ceo geraldine laybourne chairman greg clark ceo current products backup exec disaster recovery advisor enterprise vault netbackup norton connectsafe norton family norton insight norton security norton liveupdate norton safe web norton utilities pcanywhere sonar symantec endpoint protection veritas file system veritas storage foundation veritas volume manager discontinued drive image ghost goback grandview more norton 360 norton antibot norton antivirus norton cleansweep norton commander norton internet security norton pc checkup norton personal firewall norton systemworks num note it partitionmagic q & a sqz sum symantec c think c think reference time line visual caf winfax acquisitions and mergers 4frontsecurity stake altiris binary research bindview blue coat systems breakthrough software brightmail central point software company i delrina dynamic microprocessor associates fast track fifth generation systems leonard development group liric associates messagelabs mountain wave nexland on technology peter norton computing platform logic powerquest quarterdeck quest development recourse technologies relicore riptech securityfocus slr systems sygate technologies turntide urlabs veritas software whitewater group wholesecurity zortech category commons retrieved from https en.wikipedia.org w index.php title veritas technologies & oldid 739755275 categories defunct software companies of the united statescompanies based in mountain view californiacompanies established in 1983technology companies disestablished in 2005private equity portfolio companiessymantec acquisitionshidden categories articles needing additional references from september 2010all articles needing additional referencesarticles lacking in text citations from september 2010all articles lacking in text citationsall articles with unsourced statementsarticles with unsourced statements from june 2009 navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 16 september 2016 at 19 31 . text is available under the creative commons attribution sharealike license ; additional terms may apply . by using this site you agree to the terms of use and privacy policy . wikipedia is a registered trademark of the wikimedia foundation inc. a non profit organization . privacy policy about wikipedia disclaimers contact wikipedia developers cookie statement mobile view