Veritas Software Corp. (Nasdaq: VRTS) hopes to close this month a $59 million cash transaction to purchase Ejasent Inc., a maker of application management software (see Veritas Buys Ejasent).
Ejasent, located as Veritas is in Mountain View, Calif., has 21 employees, most of them engineers who will join Veritas's High Availability/Clustering group. Ejasent's co-founder and CTO, Rajeev Bharadhwaj, will be joining Veritas, though several other Ejasent execs won't be, including CEO Jason Donahue, CFO Kent Jarvi, and VP of sales and business development Gerald F. King.
The purchase is third in a series meant to increase Veritas's presence in so-called utility computing, which refers to streamlining IT resources to achieve the kind of ready access that comes with water, gas, and dialup phone services.
Veritas's other two buys include the purchase in May 2003 of Jareva Technologies, which makes server provisioning software; and the June 2003 purchase (after protracted negotiations) of Precise Software Solutions, which makes performance management software (see Veritas to Acquire Precise, Jareva, Veritas Moves up the Stack, and Veritas Picks Up Precise).
After the Ejasent buy, Veritas will have spent $730 million to date on its utility computing acquisition spree -- Precise cost the company $609 million, and Jareva $62 million. And it's likely there are more purchases in the pipeline: Veritas has $2.3 billion in cash on hand, which isn't expected to change much with its next quarterly report on January 28.
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