Carlyle Closes on Veritas in Hot Data Storage Sector

Reuters reported:

OCT 20 closing
-- Carlyle Group LP to acquire data storage unit Veritas from antivirus software maker Symantec Corp

WSJ  ran a piece on the sizzling data storage sector.

Employees at private-equity firm Carlyle Group used to wait several minutes to hours for its computer systems to churn out some financial reports. Now such tasks are often completed in seconds, thanks to new-wave data-storage hardware from a startup called Tintri Inc. that it began installing a year and a half ago.

“I could not believe the difference,” said Alan Thompson, Carlyle’s vice president of global information-technology services.

Such testimonials are becoming commonplace as one of Silicon Valley’s least-sexy sectors turns into one of its hottest. Technology for helping companies store data—the high-tech equivalent of filing cabinets—has become crucial to speeding operations to make companies nimbler. The change is giving storage gear a bigger claim on corporate information-technology dollars.

WSJ helped establish Carlyle as a sophisticated data user.

Companies will spend more than $40 billion in 2015 on storage hardware alone, research firm International Data Corp. estimates.  

An IDC study, sponsored by EMC, last year estimated that the volume of digital bits from all sources will grow 40% a year into the next decade.

Who else has an insatiable need for data storage?  Uncle Sam, which is right up Carlyle's alley.  I hope Carlyle co-founder David Rubenstein thanks WSJ owner Rupert Murdock for the publicity.

Update:  WSJ may need a secure storage solution themselves, given they were hacked by Russians looking for trading tips.