Get out your fork. I’ve got a story for you…
At the beginning of 2005, Symantec acquired Veritas. Together, Veritas’s BackupExec and NetBackup products accounted for something like 70-80% of the world’s enterprise backup market. As I recall, BackupExec had annual sales of around $600M, and NetBackup was similar.
I worked for the only technology group within Symantec that overlapped the backup space at the time. We were making a disk-based backup product named LiveState Recovery; its revenues were in the tens of millions of dollars and we were growing at >100% CAGR.
Integration gets hairy
Our growth stemmed from the fact that we were approaching backup in a radically different way. Instead of capturing changed files and streaming them through a centralized media server to a tape library, we took disk images based on snapshotting technology. We were faster (many times faster, often); we had a distributed architecture that scaled out much more easily; we never missed a bit; we captured application state perfectly; we could mount backups or convert them to virtual machines.
As the acquisition finalized, Symantec charged us and the BE folks Continue reading