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Symantec Corp. (Nasdaq: SYMC) CEO John Thompson today painted a picture of what the company will look like once its merger with Veritas Software Corp. (Nasdaq: VRTS) is approved by both boards of directors (see Symantec & Veritas: It's a Deal).
The $13.5 billion merger announced last month places Symantec in a new breed of combined storage and system companies that can offer CIOs products in several areas -- in this case, storage management and security.
These are the leaders, Thompson told analysts during a conference call. Its not about putting a big company with a broken down company. [Ed. note: Touchy touchy! Who suggested that?]
Thompson described it as a multibillion-dollar titan in its first year whose headquarters can barely hold the new 13,000-person workforce. Indeed, Thompson says Symantec will maintain its Cupertino, Calif., headquarters for the moment, but might have to look for bigger digs.
Thompson also gave guidance for the first full year of the merged company. He forecasts revenue of $5 billion and earnings per share of $0.99 for the fiscal year that runs from April 1 through the end of March 2006. The guidance, arrived at by combining the totals of the two companies' revenue forecasts, was predicated on the companies directors approving the deal early in the second quarter this year.
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