Symantec to buy Veritas for $13.5 billion

 

Security software maker Symantec today said it would buy Veritas Software for $13.5 billion.

In the deal, which sees Symantec expanding into the backup and recovery software market, the company will pay $30.78 a share.

That figure represents a premium of 9.5 per cent over Veritas's closing price on Wednesday of $28.11 on the Nasdaq.