Veritas acquires Jareva and Precise for $599 million

Veritas Software Corporation announced yesterday that it had entered into a definitive agreement to acquire Precise Software Solutions for $537 million and Jareva Technologies for $62 million.

Storage software provider, Veritas Software Corporation announced yesterday that it had entered into a definitive agreement to acquire Precise Software Solutions for $537 million and Jareva Technologies for $62 million.

According to a statement, Veritas and Precise plan to provide a solution for IT professionals that will enable them to run mission critical applications with optimal performance and continuous availability. Industry analysts predict this market opportunity will grow to $11 billion by 2006.

Precise continuously monitors and analyses all components of the application infrastructure, such as web servers, application servers, databases and storage, allowing customers to proactively identify and correct problems before they affect application response times.

‘Precise Software Solutions is a strategic acquisition for our business,’ said Gary Bloom, chairman, president and CEO of Veritas Software. ‘Together Veritas and Precise solve an unequalled range of customer problems, from performance issues to hardware or software failures to site outages. It’s an end-to-end solution that only Veritas can provide.’

Jareva’s software products reportedly 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.

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. In addition, servers can be moved between applications depending on workload. A particular server could run SAP on Windows 2000 one day, and then run Oracle on Linux the next.

Similarly, 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.

‘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,’ commented 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.’