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Symantec dumps application performance management business

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Old 01-21-2008
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Symantec dumps application performance management business
Symantec has announced plans to sell its application performance management (APM) business. The business is based on technology Veritas (now owned by Symantec) acquired through its 2003 purchase of Precise Software Solutions.Vector Capital, a private equity firm based in San Francisco, has agreed to buy for an undisclosed sum the Precise business, which Symantec developed into its i3 APM offerings. Upon the deal closing, which is expected to happen by the end of the first calendar quarter, the APM business will operate as a stand-alone company called Precise Software Solutions.For its part, Symantec said unloading the APM unit will help the company better focus and compete for server and storage management customers.

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