As they said in the Blues Brothers movie, "I am bringing the band back together".....
I have always been a huge fan of Precise Software and the people at Precise. Precise software developed some great database tools. They were the first company to do memory reads against the oracle database to gather database stats. They felt that the X$ tables the data was too old in an oracle database by the time it was there. When Precise was purchased by Veritas something was lost. When Veritas was purchased by Symantec a great product suite lost some focus. With this spinout of the Application Performance Suite I3 out of Symantec, I think we will see the focus come back. We will see a great suite of database tools get even better. I think Quest, BMC cannot be happy about this. They know first hand just how good these tools are. Now that the company will regain focus again, I think its better for the entire Industry. It will make the database tools get even better than they are now.
Here is a copy of the press release:
Vector Capital Acquires Application Performance Management Business from
CUPERTINO, Calif. - Jan. 17, 2008 - Symantec Corp. (NASDAQ: SYMC)
today announced that it has signed a definitive agreement to sell its
Application Performance Management (APM) business to Vector Capital, a
San Francisco-based private equity firm specializing in spinouts,
buyouts and recapitalizations of established technology businesses.
Upon closing, the APM business will operate as a new, stand-alone
company called Precise Software Solutions Inc. The transaction, which
is subject to certain customary conditions, it expected to close by the
end of the first calendar quarter of 2008.
"Vector Capital has a proven track record for building strong technology
businesses out of divisions it purchases and will provide Symantec's APM
customers with a more dedicated focus and investment," said Greg
Butterfield, interim group president, Storage and Server Management
Group, Symantec. "Selling the APM business will allow the Storage and
Server management team to focus on securing and managing information."
"Having successfully spun out divisions from both Intel and Raytheon,
Vector Capital has a strong track record of restoring focus and growth
to non-core divisions of the largest global technology companies," said
Chris Nicholson, partner at Vector Capital. "We are committed to taking
great care of customers, delivering innovative products and creating
future opportunities for the employees of this business."
Upon closing of the transaction, Precise Software Solutions will take
over all development, product management, marketing and sales for the
APM business. To ensure a smooth transition for customers and the new
company overall, Symantec will continue to support the APM business post
closing via a transition services agreement. Additionally, Symantec and
Vector have signed an agreement allowing Symantec to continue to sell
APM software and support to its customers. Further, Symantec will
continue to honor the terms and conditions of its support commitments to
its customers, and will leverage the APM personnel transferred over to
Precise Software Solutions to ensure continuity of support.
Symantec is a global leader in infrastructure software, enabling
businesses and consumers to have confidence in a connected world. The
company helps customers protect their infrastructure, information and
interactions by delivering software and services that address risks to
security, availability, compliance and performance. Headquartered in
Cupertino, Calif., Symantec has operations in more than 40 countries.
More information is available at www.symantec.com
FORWARD-LOOKING STATEMENTS: This press release contains statements that
may be considered forward-looking within the meaning of the U.S. federal
securities laws, including statements relating to the closing of the
sale of Symantec's APM business to Vector Capital and relating to the
post-closing relationship between Symantec and Vector Capital. These
statements are subject to known and unknown risks, uncertainties and
other factors that may cause actual results to differ materially from
results expressed or implied in this press release. Additional
information concerning these risk factors is contained in the Risk
Factors section of Symantec's Annual Report on Form 10-K for the year
ended March 30, 2007.
456 Montgomery Street
San Francisco, CA 94104
Phone: (415) 293-5000
Fax: (415) 293-5100
About Vector Capital
Vector Capital is a leading private equity firm specializing in buyouts,
spinouts and recapitalizations of established technology businesses.
Vector identifies and pursues these complex investments in both the
private and public markets. Vector actively partners with management
teams to devise and execute new financial and business strategies that
materially improve the competitive standing of these businesses and
enhance their value for employees, customers and shareholders. Among
Vector's notable investments are SafeNet, Corel Corporation (Nasdaq:
CREL), Register.com, Savi Technology, LANDesk Software, Tripos, WinZip
and Watchguard Technologies. For more information, visit
Posted Michael Corey, Ntirety
View blog top tags