Symantec gives Veritas name to new info-management arm

Vendor outlines strategy for soon-to-be spun-off arm

Symantec has settled on the name Veritas for its newly established information-management (IM) arm which was created when the company split in two in October.

Veritas was acquired by Symantec in 2005 and the moniker will now be used for the IM business once the split is complete. The remaining half of the business will comprise its security arm.

"Veritas remains a powerful brand that still has tremendous equity with our customers, partners and employees, and after careful review it was an easy choice as the name for our information management business," said Michael Brown, Symantec's chief executive.

Symantec also unveiled the new Veritas logo (pictured), which Brown said "signals that Veritas is ready to solve the most critical information challenges facing our customers today and tomorrow."

Last year, Veritas generated $2.5bn (£1.65bn) in revenue for Symantec and competes in a market worth about $11bn, the vendor said.

When Symantec announced the split last year, Brown said he expects it to be complete by December this year.

Today he outlined the Veritas unit's goals:

"The new Veritas [unit] has continued to build out its organisation and evolve its product strategy, while serving customers with its industry-leading solutions," he said.

"Veritas will continue to invest in and enhance those core products, but they will also serve as the foundation for new information availability and insight technologies that will help customers further unlock the value of their data to help drive business productivity.

"By extending current product capabilities, leveraging IP and building new co-ordinated architectures, Veritas will bring next-generation solutions designed for hybrid cloud environments to market throughout the upcoming year."