VERITAS Software Corporation and Precise Software announced that they have signed a definitive agreement for VERITAS to acquire Precise in a transaction valued at $537 million. Together, VERITAS and Precise will provide a unique solution for IT professionals to run mission-critical applications with optimal performance and continuous availability. Industry analysts predict this market opportunity will grow to $11 billion by 2006.

The acquisition of Precise enables VERITAS to ensure that mission-critical applications such as SAP, Oracle, BEA and Microsoft Exchange run faster and have less downtime, leading to better end-user productivity and higher return on investment. VERITAS keeps applications running in the face of hardware and software failure. Precise continuously monitors and analyzes all components of the application infrastructure – 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."

"The combination of Precise and VERITAS represents an exciting opportunity for our shareholders, customers, partners and employees," said Shimon Alon, CEO of Precise Software Solutions. "VERITAS' scale and global distribution will accelerate the market penetration of our industry leading application performance management solutions."

With 20 consecutive quarters of revenue growth, Precise is a leader in application performance management. In addition, Precise also provides a leading Windows storage resource management (SRM) solution, delivering the capability to manage storage capacity and performance for application service level agreements. This capability complements VERITAS' existing SRM offering.

VERITAS also announced the acquisition of Jareva Technologies, a privately held company that has quickly established itself as a technology and market leader in server automation.

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