Symantec to Sell Data Storage Business to Carlyle Group

Symantec (NASDAQ:SYMC) has agreed to sell Veritas, its data storage unit, to Carlyle Group LP, Reuters reported. A person familiar with the matter told the news outlet that a deal could be reached as soon as Tuesday.
As quoted in the publication:

Bloomberg had reported first last month that Symantec was nearing a deal to sell Veritas to Carlyle for between $7 billion and $8 billion.
Symantec has been seeking buyers for Veritas for several months, but interest from potential buyers was limited because of a tax burden associated with splitting the company.
Symantec had been planning to separate its business focused on corporate and consumer security software, which had $4.2 billion in revenue last year, from Veritas, which has about $2.5 billion in revenue. It announced the tax-free spinoff last October.

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