VERITAS Software Acquires Jareva Technologies
Thursday December 19, 7:45 am ET
Leading Server Automation Software Lowers Server Hardware and Labor Costs
MOUNTAIN VIEW, Calif., Dec. 19 /PRNewswire-FirstCall/ -- VERITAS Software Corporation (Nasdaq: VRTS - News), the leading storage software provider, today announced that it has signed a definitive agreement to acquire Jareva Technologies, an innovator in automated server provisioning. Jareva's software products uniquely allow businesses to lower their IT costs by making more efficient use of server hardware and reducing the need for dedicated IT staff to perform common administrative tasks.
ADVERTISEMENT
Instead of manually deploying and configuring servers for specific operating systems and business applications, Jareva's server provisioning technology enables companies to automatically deploy additional servers -- without manual intervention. In addition, servers can be moved between applications depending on workload. So, a particular server could run SAP on Windows 2000 one day, and then run Oracle on Linux the next. This ability to share servers allows CIO's to drive more value out of their hardware investment.
"Jareva Technologies will enable VERITAS customers to reduce their investments in server hardware and the labor required to manage it," said Gary Bloom, chairman, president and CEO of VERITAS Software. "It's a perfect complement to our market leading storage software. Together we can help CIO's optimize the return on both their storage and server hardware investments."
Jareva Technologies has natural synergies with VERITAS' market-leading high availability software. For example, if VERITAS software discovers a server hardware failure it can automatically make a provisioning request for a replacement from a server pool managed by Jareva. Jareva brings a new server online, puts in place the correct environment and then passes it to VERITAS to fail over the application. All this can be done without manual intervention.
"The combination of VERITAS' storage software and Jareva's server automation technology is unique. Together we help CIO's dramatically lower their storage and server hardware investments," said Jagadish Bandhole, chairman and CEO of Jareva Technologies. "In addition, VERITAS' financial strength and distribution capability will enable us to drive mainstream adoption of our technology and execute on our product vision."
The transaction between Sunnyvale, CA based Jareva Technologies and VERITAS Software was valued at approximately $62 million in cash.
Separately today VERITAS announced that it entered into a definitive agreement to acquire Precise Software Solutions (see related release), a leader in application performance management and storage resource management.
Conference Call
The company will hold a conference call today at 6:00 a.m. Pacific Time, 9:00 a.m. Eastern Time, to discuss today's news. Investors and journalists may access the call by dialing 800-310-1961 and entering passcode 508209, internationally at 719-457-2692. If you are unable to listen to the live conference call, a replay of the call will be available two hours following the call at 888-203-1112, passcode 508209, and internationally at 719-457-0820 until December 27, 2002. The call will also be webcast and can be reached at www.veritas.com. |
