Veritas buys two software companies for $600M

Veritas buys two software companies for $600M

Seeking to buy into the emerging US$11 billion storage resource management marketplace, storage vendor Veritas Software announced Thursday that it will purchase Precise Software Solutions and Jareva Technologies to gain application performance management and server-provisioning capabilities on its own software suites.

Veritas said it will pay $537 million for Westwood, Mass.-based Precise and $62 million for Sunnyvale, Calif.-based Jareva.

Precise, a 10-year-old company with 450 employees, makes application performance management software. Its software will give Veritas the ability to oversee mission-critical applications such as SAP, Oracle, BEA and Microsoft Exchange.

Currently, Veritas' flagship application, SANPoint Control and Veritas Volume Manager, are storage provisioning tools for storage-area networks.

"Our clustering products ensure those applications never go down. Then Precise covers the same mission-critical applications, but they ensure the performance of those application never degrade," said Kris Hagerman, senior vice president of strategic operations at Veritas in Mountain View, Calif.

Jareva, a privately held start-up with 35 employees, makes server provisioning software that allows IT managers to add servers without manual intervention.

Last month, Veritas purchased an application called NTP Storage Recorder from start-up NTP Software in Manchester, N.H. That software gave Veritas storage chargeback capabilities.

"We think this rounds out the hardware utilization objective we're after," said Bob Maness, senior director of products marketing at Veritas. "We're extending our value from the storage level to the application level and that entire stack. That's a critical part of the measurement of a CIO's value proposition to a company."

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