VERITAS Software Corporation (NASDAQ: VRTS) is headquartered in Mountain View, Calif., and employs more than 6,700 people in 40 countries. With annualized revenues over $1.75 billion in 2003, VERITAS Software ranks among the top 10 software companies in the world. Through its award-winning and market-leading products focused on business efficiency and continuity, VERITAS Software provides the building blocks for utility computing.
VERITAS Software was founded in 1989 to develop and market high availability products. Steady growth and strong demand for the company's software solutions lead to an initial public offering in 1993. VERITAS Software has been listed on the NASDAQ National Market under the symbol VRTS since that time. It was added to the NASDAQ-100 Index in January 1999 and to the S&P 500 Index in March 2000.
In April 1997, VERITAS Software merged with OpenVision Technologies, expanding the company's product line to include solutions for backup/recovery and hierarchical storage management—a strategy that enabled VERITAS to provide end-to-end storage management solutions for enterprise customers.
In May 1999, VERITAS Software further extended its end-to-end strategy with the acquisition of the Network and Storage Management Group of Seagate Software. That merger enabled VERITAS to quickly diversify from its core UNIX solutions into the Windows NT and Novell NetWare spaces. As a company focused on software that interoperates with all major hardware and software on all platforms, VERITAS Software products are uniquely positioned in the market to be the only truly open architecture, emphasizing heterogeneous support and interoperability.
In 2003, VERITAS Software completed acquisitions of Precise Software, a market leader in application performance management; Ejasent, a leader in application virtualization technology and Jareva Technologies, a leader in the emerging market for server utilization and automation. These strategic acquisitions were the key ingredients that enable VERITAS Software to provide the building blocks for utility computing. According to Gary Bloom, VERITAS Software's Chairman, President, and CEO, "From a business point of view, we're expanding our reach into a larger market that puts VERITAS Software at the forefront of enabling companies to implement a utility computing model." "Storage serves as the strategic foundation and key building block for utility computing," adds Mark Bregman, VERITAS Software's Executive Vice President of Product Operations. "We believe IT will start to make the move to the utility model right here at the storage infrastructure. A storage utility model is a good proving ground before broadening to servers and applications."
At VERITAS Software, we understand that our success is tied to the success of our customers. Factors such as revenue, market share, and profits are certainly important; but we view these conventional measures of business success as secondary effects of our most critical success factor — customer satisfaction. That is why we work hand-in-hand with our customers to build smarter solutions for business efficiency and continuity — all of which supports our vision of enabling utility computing through software.