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But compared with Oracle's hard-fought battle to acquire People Soft, the Symantec-Veritas union has been relatively free of conflict.The boards of both companies consistently supported the merger, and the proposal easily passed review by antitrust regulators.
The deal, which is valued at just under billion and combines two companies with vastly different strategies, would create the fifth-largest software company.
Moreover, this policy charges the Enterprise Software Category Team (ESCT)—a cross-governmental, cross-functional team of senior IT and acquisition professionals—to lead our software effort and help break down silos in the Federal Government IT acquisition space that can result in decentralization, lack of transparency, and other challenges.
Specifically, the team will help drive and monitor the development of government-wide software strategies, such as increasing the number and use of government-wide software agreements and improving software license management practices. For instance, the team renegotiated a government-wide agreement with Environmental Systems Research Institute, a geospatial software provider representing 27 percent of Federal spending in this category.
The final value of the transaction will not be known until the deal officially closes on July 2.
At the closing, Veritas shareholders will receive 1.1242 shares of Symantec for each Veritas share.
That report argued that the initial sell-off of Symantec shares had more to do with concern about the entire sector than about the deal itself.