Friday, February 5, 2016

Symantec Gets $500M From Silver Lake

Mountain View-based Symantec and Menlo Park-based private equity investor Silver Lake said late Thursday that Silver Lake will make a $500M strategic investment in Symantec. Silver Lake Manging Partner Kan Hao has been appointed to Symantec's board as part of the investment. The investment comes as part of a capital return program which will give its shareholders all of the after-tax cash proceeds from its recent sale of Veritas, worth $5.5 billion.