Veritas Technologies

Veritas Technologies LLC
	File:Veritas Technologies logo.svg
Company type	Private
Industry	Data management software
Predecessor	Tolerant Systems
Founded	1983
Founder	Eli Alon, Dale Shipley
Headquarters	Santa Clara, California, United States
Products	VxFS, VxVM, VCS, Backup Exec, NetBackup, Veritas Record Now, Enterprise Vault, Volume Replicator, SANPoint, eDiscovery Platform, APTARE IT Analytics™, CloudPoint, SaaS Backup, Desktop and Laptop Option, Flex Appliance, Information Studio, Data Insight, Veritas Infoscale, Resiliency Platform, Hubstor
Owner	Cohesity (since 2024)
Website	www.veritas.com

Adapted from the English Wikipedia article Veritas Technologies, available under CC BY-SA 4.0Updated 25 July 2025

Veritas Technologies LLC is a global American firm specializing in data management, with its corporate headquarters located in Santa Clara, California. The company was initially established as Tolerant Systems in 1983 before rebranding to Veritas Software. Its core expertise lies in storage management software, offering products such as the pioneering commercial journaling file system, the VxFS, VxVM, VCS, Backup Exec tailored for small office environments, and the enterprise-grade backup solution NetBackup. Additionally, Veritas Record Now was among the early CD recording applications.

Prior to its 2004 merger with Symantec (currently known as Gen Digital), Veritas was publicly traded on the S&P 500 and NASDAQ-100 stock indices under the ticker symbol VRTS.

In 2014, Symantec announced plans to spin off its information management division as Veritas Technologies LLC, allowing it to concentrate on cybersecurity. Subsequently, private equity firm The Carlyle Group purchased Veritas for $8 billion in 2016. Later, in 2024, Veritas was acquired by software company Cohesity for $3 billion.

Early history

The company was founded in 1983 by Eli Alon and Dale Shipley, both former employees of Intel, under the name Tolerant Systems. It focused on developing fault-tolerant computer architectures based on a "shoe box" design that combined an operating system processor running a Unix-based variant called TX with an I/O processor operating a Real Time Executive (RTE). This platform was marketed as the "Eternity Series."

The TX software incorporated application-level checkpointing to ensure fault tolerance by enabling rollback during hardware failures. Tolerant Systems also contributed to early RAID technology advancements by integrating journaling file systems and disk redundancy mechanisms.

In 1988, Dale Shipley established Tolerant Software, which developed journaling file systems and virtual disk management solutions for AT&T UNIX platforms under the leadership of John Carmichael.

Veritas adopted a business strategy centered on OEM collaborations with firms such as Sun Microsystems and Hewlett-Packard. It licensed its file system (VxFS) and volume manager (VxVM) technologies to various UNIX vendors, generating royalty income linked to OEM product shipments.

On December 9, 1993, Veritas launched its initial public offering (IPO), offering 16 million shares and achieving a valuation of $64 million.

Growth and acquisitions

By the end of 1996, Veritas had achieved $36 million in revenue.

Acquisition of Tidalwave Technologies: In 1995, Veritas entered the High Availability (HA) software market by acquiring San Francisco-based Tidalwave Technologies for $4.2 million in stock.
OpenVision Technologies Acquisition: The 1997 purchase of OpenVision Technologies marked Veritas's expansion into backup solutions. Although only $20 million of OpenVision’s 1996 revenues were retained post-acquisition, Veritas closed that year with $120 million in total revenue. During this period of expansion, it consolidated operations into a newly constructed 550,000 square-foot headquarters located in Mountain View, California, completed by 2000.
Seagate NSMG Acquisition: Revenue grew to $200 million by 1998. In 1999, Veritas acquired Seagate Software’s Network and Storage Management Group (NSMG), which had generated roughly $200 million in revenue during 1998. The combined organization reported $700 million in revenue that year, positioning Veritas as the dominant player in storage management software. By the year 2000, revenues reached $1.2 billion; the company secured membership in the S&P 500 and Fortune 1000 lists and ranked tenth globally by software revenue and third by market capitalization.
Impact of Internet Bubble: Despite the dot-com crash in 2001, Veritas increased revenues by 25% to $1.5 billion while maintaining operating margins at approximately 25%.
42-Fold Revenue Growth: Over a five-year span, Veritas expanded its revenue from $36 million to $1.5 billion—a growth factor of 42 times.
Significant acquisitions during this period included OpenVision Technologies (April 1997), Seagate Software’s NSMG (May 1999), and Precise Software Solutions from Israel (August 2003) for around $609 million paid in cash and stock, bolstering its Application Performance Management (APM) portfolio.

2004–2014: Integration with Symantec

In 1998, Veritas consolidated its operations into a newly constructed headquarters in Mountain View, designed by HOK and completed in 2001. On December 16, 2004, Veritas revealed plans for a $13.5 billion merger with Symantec, forming what was then the fourth-largest software company globally. Shareholders approved the deal on June 24, 2005, and the merger was officially closed on July 2, marking a pivotal development in Veritas’ corporate expansion and strategic positioning within the software sector.

2014–2016: Separation

Symantec announced on October 10, 2014, its intention to divide into two distinct entities: the security operations would continue under the Symantec name, while the information management division was reestablished as Veritas Technologies Corporation. This split was finalized on January 29, 2016.

On August 11, 2015, Symantec consented to sell Veritas to The Carlyle Group. The operational separation took place on October 1, 2015, with the sale concluding on January 30, 2016. This transaction, valued at $8 billion, transitioned Veritas into a privately owned company and represented a strategic divestiture for Symantec.

2016: Fresh Start

Following the demerger, Veritas reemerged as Veritas Technologies LLC with an updated logo. Under CEO Bill Coleman’s leadership, the company embraced a "startup mentality focused on market success and customer-centric values" during its two-year transformation period. Greg Hughes was named CEO on January 28, 2018. To support its growth strategies, Veritas planned to relocate its headquarters to Santa Clara by mid-2018. In September 2020, Veritas further broadened its offerings through the acquisition of Globanet, a software firm based in Los Angeles.

2024: Merger with Cohesity

In February 2024, SoftBank-backed Cohesity acquired Veritas in a transaction valued at $7 billion, assigning Veritas a $3 billion valuation. The merger was completed in December 2024, merging their expertise in data management and protection to enhance market presence and expand their global footprint.

Products and services

Veritas Alta
Access
VxFS and VxVM
NetBackup and NetBackup Appliances
Backup Exec
Cluster Server (VCS)
Enterprise Vault
Volume Replicator (VVR)
SANPoint
eDiscovery Platform
APTARE IT Analytics™
CloudPoint
SaaS Backup
Desktop and Laptop Option
Flex Appliance
Information Studio
Data Insight
Veritas Infoscale (including HyperScale for OpenStack)
Resiliency Platform
Hubstor

Legal disputes

In 1999, Veritas Software Corp. along with Veritas Ireland entered into a cost-sharing arrangement that later became the focus of litigation with the U.S. Internal Revenue Service concerning transfer pricing issues.

External links