- As expected, the sale of Symantec's (SYMC) Veritas storage software unit to P-E firm Carlyle has closed today. The closing comes nine days after Symantec announced it had agreed to a deal revision that cuts its after-tax proceeds by $1B to $5.3B.
- Symantec, now solely focused on security software/services, has used the announcement to state its board has approved a $2B increase for the company's capital return program.
- Symantec adds it's on track to return over $4B to shareholders by the end of March 2017. $1.8B was left on the company's buyback authorization at the end of FQ3 (calendar Q4), and a $500M accelerated buyback was finished this month. FQ3 results arrive on the afternoon of Feb. 4.