Dive Brief:
- The Carlyle Group LP will pay $6.6 billion in cash instead of the previously agreed $8 billion for Symantec's Veritas business, citing "uncertainties" after the deal was announced in August.
- Carlyle will also take a $400 million equity interest in Veritas, and double the amount of Veritas' offshore cash to $400 million.
- The deal is expected to close Jan. 29.
Dive Insight:
When Symantec first announced the deal in August, the company said it was selling its information management business, Veritas, in order to expand its security business.
Symantec president and CEO, Michael A. Brown, said in a company press release, "In a difficult environment, we can move forward with a high degree of certainty around closing a transaction that represents attractive value for shareholders. In addition, this transaction will allow Symanetc to further focus and accelerate its strategy as the world's leading cybersecurity company."