CUPERTINO, Calif. - June 24, 2005 - Symantec Corp. (Nasdaq: SYMC) and VERITAS Software Corp. (Nasdaq: VRTS) today announced that their respective stockholders have approved matters relating to the proposed merger between the two companies at the special meetings of stockholders held today. Of the 76 percent of outstanding Symantec shares that were voted, nearly 95 percent were cast in favor of the merger. Of the 73 percent of outstanding VERITAS shares that were voted, 98 percent were cast in favor of the merger. Pursuant to the terms of the merger agreement, each share of VERITAS common stock will be exchanged for 1.1242 shares of Symantec common stock on the closing of the merger.
Symantec stockholders also approved an increase in the authorized number of shares of Symantec common stock to three billion shares. The merger is expected to close on July 2, 2005.
About VERITAS Software
VERITAS Software, one of the 10 largest software companies in the world, is a leading provider of software and services to enable utility computing. In a utility computing model, IT resources are aligned with business needs, and business applications are delivered with optimal performance and availability on top of shared computing infrastructure, minimizing hardware, and labor costs. With 2004 revenue of $2.04 billion, VERITAS delivers products and services for data protection, storage & server management, high availability, and application performance management that are used by 99 percent of the Fortune 500. More information about VERITAS Software can be found at www.veritas.com.
Symantec is the world leader in providing solutions to help individuals and enterprises assure the security, availability, and integrity of their information. Headquartered in Cupertino, Calif., Symantec has operations in more than 40 countries. More information is available at www.symantec.com.
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Symantec, the Symantec logo, VERITAS, and the VERITAS logo are trademarks or registered trademarks of Symantec Corporation or its affiliates in the United States and certain other countries. Additional company and product names may be trademarks or registered trademarks of the individual companies and are respectfully acknowledged.
VERITAS Software and the VERITAS Software logo are trademarks or registered trademarks of VERITAS Software Corporation or its affiliates in the U.S. and other countries. Other names may be trademarks of their respective owners.