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Veritas Buys Two Software Makers

Veritas Software is spending nearly $600 million to buy two storage-management software vendors.

Veritas, a maker of backup and recovery software, says it will buy Precise Software Solutions, whose products monitor databases and storage devices, for $537 million in cash or a combination of cash and stock. It's also buying Jareva Technologies, which makes software for deploying servers and shifting workloads to meet service-level agreements, for $62 million in cash. The acquisitions could help customers improve disk performance and deal with outages better, Veritas CEO Gary Bloom says.

Gartner analyst Ray Paquet says Veritas should be able to integrate Precise's technology quickly with its own, but integrating Jareva's software could take a year.

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