VERITAS Software—a vendor that primarily focuses on data management, protection, and recovery—has announced plans to expand its product line by acquiring Precise Software Solutions and Jareva Technologies. The double acquisition is valued at $599 million.
VERITAS will purchase Precise Software for $537 million in a cash and stock transaction. Precise develops and sells management, monitoring, and performance applications for Web, application, database, and storage servers. Its products compete with solutions from Quest Software and BMC Software. The purchase is expected to be completed by the second quarter of 2003.
The acquisition of privately owned Jareva Technologies will cost Veritas VERITAS $62 million in cash. Jareva makes software that provides server automation technology that lets companies pool server resources. The Jareva transaction will be complete in 30 days.
The acquisitions are seen by analystsAnalysts see the acquisitions as a way for VERITAS to expand into markets outside the storage industry. The software storage industry has become increasingly competitive, with companies such as EMC devoting more resources to the profitable industry. The acquisition will help VERITAS provide applications management for myriad products.