Carlyle nears up to $8bn deal for Symantec’s Veritas unit

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binary-797274_1280Listed private equity giant Carlyle is reportedly nearing a deal of up to $8bn for the Veritas data-storage business of Symantec Corp.

Symantec has been attempting to sell the unit for several months according to Bloomberg, which cited unnamed sources familiar with the matter.

The company paid more than $13bn for Veritas ten years ago, but despite being cash-flow generative it reportedly has low revenue growth.

Carlyle closed its last mega buyout fund in late 2013, pulling in $13bn from more than 260 LPs.

It began fundraising in 2011 with a $10bn target.

A couple of month ago the firm closed its latest European tech fund at €656m – its largest of its type to date – to invest in Europe’s telecom, media and technology sector.

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