M&A Deal Summary

The Carlyle Group and GIC Acquire Veritas

On August 11, 2015, private equity firm The Carlyle Group and sovereign wealth fund GIC acquired information technology company Veritas from Gen Digital for 8.0B USD

Acquisition Highlights
  • This is The Carlyle Group’s 18th and GIC’s 1st transaction in the Information Technology sector.
  • This is The Carlyle Group’s 8th and GIC’s 5th largest (disclosed) transaction.
  • This is The Carlyle Group’s 271st and GIC’s 3rd transaction in the United States.
  • This is The Carlyle Group’s 43rd and GIC’s 2nd transaction in California.

M&A Deal Summary
Date 2015-08-11
Target Veritas
Sector Information Technology
Buyer(s) The Carlyle Group
GIC
Sellers(s) Gen Digital
Deal Type Divestiture
Deal Value 8.0B USD

Target

Veritas

Santa Clara, California, United States
Entrance to VERITAS' corporate headquarters in Mountain View, California.
Entrance to VERITAS' corporate headquarters in Mountain View, California.
Veritas is an information management systems provider offers storage and server management software solutions. Veritas was founded in 1982 and is based in Mountain View, California.

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Buyer(S) 2

Buyer

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.

DEAL STATS #
Overall 536 of 744
Sector (Information Technology) 18 of 38
Type (Divestiture) 55 of 72
State (California) 43 of 55
Country (United States) 271 of 349
Year (2015) 26 of 41
Size (of disclosed) 8 of 137
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-07 Tongyi

Beijing, China

Tongyi is an oil-lubricants business serving markets and customers throughout China. Tongyi was founded in 1993 and is based in Beijing, China.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-14 Ta Chong Bank

Taipei, Taiwan

Ta Chong Bank Ltd. is a mid-sized commercial bank in Taiwan.

Sell $1.7B
Buyer

GIC

Investor Investor Investor Investor Investor

Category Sovereign Wealth Fund
Founded 1981
Size Mega
Type Sector Agnostic
DESCRIPTION

GIC Private Ltd. is the investment arm of Singapore. The Group primarily invests through three investment groups, including public markets, private equity and real estate. GIC's private equity practice looks to invest in funds as well as directly in companies. GIC is based in Singapore with additional offices globally.

DEAL STATS #
Overall 10 of 42
Sector (Information Technology) 1 of 3
Type (Divestiture) 3 of 4
State (California) 2 of 4
Country (United States) 3 of 15
Year (2015) 2 of 4
Size (of disclosed) 5 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-05 NAC

Limerick City, Ireland

NAC provides leasing and leases management services to airlines and aircraft investors worldwide. Aircraft are purchased in the primary and secondary markets and NAC is the largest regional fleet owner and aircraft lessor in the world. NAC was founded in 1990 and is based in Limerick City, Ireland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-14 CETIN

Prague, Czech Republic

CETIN operates and own the telecommunications network covering the entire territory of the Czech Republic. 99.6 % of the population has access to our network through fixed technologies (SDH, WDM, Ethernet and IP) and set of mobile technologies (GSM, UMTS, LTE and 5G), which are distributed by 6,000 base stations. CETIN was founded in 2015 and is based in Prague, Czech Republic.

Buy -

Seller(S) 1

SELLER

Gen Digital

Tempe, Arizona, United States
Category Company
Founded 1982
Sector Information Technology
Employees2,700
Revenue 3.8B USD (2024)
DESCRIPTION

Gen Digital is a cyber safety company that is dedicated to helping secure the devices, identities, online privacy, and home and family needs of approximately 50 million consumers, providing them with a trusted ally in a complex digital world. Gen Digital was founded in 1982 and is based in Tempe, Arizona.

DEAL STATS #
Overall 3 of 5
Sector (Information Technology) 2 of 3
Type (Divestiture) 3 of 4
State (California) 2 of 4
Country (United States) 3 of 5
Year (2015) 1 of 1
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-13 Narus

Sunnyvale, California, United States

Narus, Inc. is a provider of the only carrier-class, real-time Internet Protocol (IP) traffic analysis system.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-12 Blue Coat Systems

Sunnyvale, California, United States

Blue Coat is an enterprise security, providing on-premise, hybrid and cloud-based solutions for protecting web connectivity, combating advanced threats and responding to security breaches. Blue Coat is the global market leader in securing connection to the web and counts nearly 80 percent of the Global Fortune 500 as its customers.

Buy $4.7B
Mergr

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