<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (date of earliest event reported) April 27, 1999
--------------------------------
VERITAS SOFTWARE CORPORATION
- --------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 000-22712 94-2823068
- ---------------------------- ------------ -------------------
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
1600 Plymouth St.
Mountain View, California 94043
- ---------------------------------------- -----------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (650) 335-8000
------------------------------
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Item 5: Other Events
On April 27, 1999, VERITAS Software Corporation and the Network
and Storage Management Group ("NSMG") of Seagate Software, Inc., a
majority-owned subsidiary of Seagate Technology, Inc., issued a press release
announcing the release of an attached schedule of pro forma unaudited quarterly
statements of operations for Seagate Software NSMG for the years ended January
1, 1999 and January 2, 1998.
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Item 7: Financial Statements and Exhibits.
(c) Exhibits
2.2 Amended and Restated Agreement and Plan of
Reorganization among VERITAS Holding Corporation,
VERITAS Software Corporation, Seagate Technology, Inc.,
Seagate Software, Inc. ("Seagate Software") and Seagate
Software Network & Storage Management Group
(incorporated by reference to Exhibit 2.01 of the
Registration Statement on Form S-4 of VERITAS Holding
Corporation filed with the Securities and Exchange
Commission on April 22, 1999, Registration No.
333-76531)
99.1 Press release dated April 27, 1999
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Dated: April 30, 1999
VERITAS SOFTWARE CORPORATION
By: /s/ KENNETH E. LONCHAR
-------------------------------------
Kenneth E. Lonchar
Senior Vice President, Finance
and Chief Financial Officer
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EXHIBIT INDEX
<TABLE>
<CAPTION>
Exhibit Description
- ------- -----------
<S> <C>
99.1 Press release dated April 27, 1999
</TABLE>
<PAGE> 1
EXHIBIT 99.1
FOR IMMEDIATE RELEASE For Further Information Contact:
Erin Jones, Public Relations Director
(805) 783-4528
[email protected]
SEAGATE SOFTWARE, INC.
Marge Duncan, Director, Investor Relations
(650) 526-2508
[email protected]
VERITAS Software
Bill Rowley, Director of Investor Relations
(831) 439-2371
[email protected]
SEAGATE TECHNOLOGY
SEAGATE SOFTWARE AND VERITAS SOFTWARE RELEASE SCHEDULE OF PRO FORMA
UNAUDITED QUARTERLY STATEMENTS OF OPERATIONS FOR
SEAGATE SOFTWARE NETWORK AND STORAGE MANAGEMENT GROUP
SCOTTS VALLEY, CALIF. AND MOUNTAIN VIEW, CALIF. -- APRIL 27, 1999 -- The Network
and Storage Management Group (NSMG) of Seagate(R) Software, Inc., a
majority-owned subsidiary of Seagate Technology Inc. (NYSE:SEG), and VERITAS(R)
Software Corporation (NASDAQ:VRTS), the leading provider of end-to-end storage
management software solutions, today released the attached schedule of pro forma
unaudited quarterly statements of operations for Seagate Software NSMG for two
calendar years ending January 1, 1999 and January 2, 1998.
This announcement follows the April 26, 1999 news release that VERITAS(R)
Software Corporation and Seagate Software NSMG have scheduled a stockholder
meeting date of May 27, 1999 for the proposed merger of the two companies.
ABOUT SEAGATE SOFTWARE
Seagate Software, a subsidiary of Seagate Technology, Inc., develops tools and
applications for Enterprise Information Management (EIM); the solution for the
growing need of corporations for superior information delivery, analysis and
availability. Seagate Software's diverse technology and breadth of leading
products -- including the award-winning Seagate Backup Exec, Seagate Crystal
Reports, Seagate Desktop Management Suite, Seagate Holos, Seagate Info, Seagate
Manage Exec and Seagate WinINSTALL -- make it uniquely qualified to deliver EIM
with an integrated infrastructure. Seagate Software has established strategic
relationships with Compaq, Hewlett-Packard Company, IBM, Informix, Microsoft,
Netscape, Novell, Oracle, PeopleSoft and other industry leaders, and markets its
products worldwide, through distributors, value-added resellers, systems
integrators, retailers, and OEMs. Seagate Software's home page address on the
World Wide Web is http://www.seagatesoftware.com.
ABOUT SEAGATE TECHNOLOGY, INC.
Seagate Technology, Inc. (NYSE:SEG) is a leading provider of technology and
products enabling people to store, access, and manage information. The Company
is committed to providing best-in-class products to help people get information
when, where and how they want it. Seagate is the world's largest manufacturer
of disc drives, magnetic discs and read-write heads, an innovator in tape
drives, and a leading developer of Enterprise Information Management software.
Seagate can be found around the globe at http://www.seagate.com. For automated
news, stock and financial information by phone, dial toll-free 877-SEG-NYSE.
Outside the U.S. and Canada, dial 760-704-4368.
ABOUT VERITAS
VERITAS Software Corporation designs, develops and markets enterprise storage
management and high availability software products that manage both online and
offline data for business-critical computing systems. The Company's products are
designed to improve system
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performance, availability and manageability while reducing the cost of
administration. VERITAS products are delivered through a worldwide direct sales
force and a network of resellers and OEM partners in North America, Europe,
Asia-Pacific and Japan. The company's corporate headquarters is located at 1600
Plymouth Street, Mountain View, CA 94043. Telephone 650-335-8000. Fax
650-335-8050. email [email protected]. WWW site: http://www.veritas.com/.
###
This press release may include estimates and forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and 21E of the
Securities and Exchange Act of 1934. These forward-looking statements involve a
number of risks and uncertainties, including the timely development and market
acceptance of products and VERITAS' ability to appropriately distribute its
products, that could cause actual results that the Company achieves to differ
materially from such forward-looking statements. For more information regarding
potential risks see the "Risk Factors" section of our most recent reports on
Form 10-K and Form 10-Q on file with the SEC.
NOTE: The "S" logo and Seagate Technology are registered trademarks of Seagate
Technology, Inc. Seagate Software, Seagate Backup Exec, Seagate Backup Exec
Shared Storage Option, Seagate Crystal Reports, Seagate Desktop Management
Suite, Seagate Holos, Seagate Info, Seagate Intelligent Disaster Recovery,
Seagate Manage Exec and Seagate WinINSTALL are either a registered trademark or
trademark of Seagate Software, Inc. or one of its subsidiaries. Seagate is a
registered trademark of both Seagate Technology and Seagate Software. All other
trademarks or registered trademarks are the property of their respective owners.
VERITAS is a registered trademark of VERITAS Software Corporation in the US and
other countries. The VERITAS logo is a trademark of VERITAS Software Corporation
in the US and other countries.
2
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SEAGATE SOFTWARE NSMG
PRO FORMA STATEMENTS OF OPERATIONS
FOUR QUARTERS ENDED JANUARY 1, 1999
(UNAUDITED)
<TABLE>
<CAPTION>
Four Quarters
Three Months Ended Ended
April 3, July 3, Oct. 2, Jan. 1, Jan. 1,
1998 1998 1998 1999 1999
-------- -------- -------- -------- -------------
<S> <C> <C> <C> <C> <C>
Revenue
Backup Exec for NT license $ 31,186 $ 25,699 $ 32,901 $ 42,799 $132,585
Other product
license/support/maintenance 17,040 17,808 15,632 16,068 66,548
-------- -------- -------- -------- --------
Total revenue $ 48,226 $ 43,507 $ 48,533 $ 58,867 $199,133
Cost of revenue 4,904 4,169 4,366 4,244 17,683
-------- -------- -------- -------- --------
Gross Profit 43,322 39,338 44,167 54,623 181,450
Operating expenses
Sales and marketing 17,981 16,949 18,960 22,015 75,905
Research and development 8,112 7,662 8,839 9,064 33,677
General and administrative 5,510 5,165 5,422 5,024 21,121
-------- -------- -------- -------- --------
Total operating expenses 31,603 29,776 33,221 36,103 130,703
Income/(loss) from operations before
in-process research and development,
amortization of goodwill and intangibles,
-------- -------- -------- -------- --------
restructuring and unusual items 11,719 9,562 10,946 18,520 50,747
-------- -------- -------- -------- --------
In-process research and development -- 6,800 -- -- 6,800
Amortization of goodwill and intangibles 2,648 2,580 2,601 2,551 10,380
Restructuring costs -- -- -- -- --
Unusual items - writeoff
goodwill/intangibles --
Unusual items - writeoff of inventory 1,200 1,200
-------- -------- -------- -------- --------
Income/(loss) from operations $ 7,871 $ 182 $ 8,345 $ 15,969 $ 32,367
======== ======== ======== ======== ========
</TABLE>
3
<PAGE> 4
SEAGATE SOFTWARE NSMG
PRO FORMA STATEMENTS OF OPERATIONS
FOUR QUARTERS ENDED JANUARY 2, 1998
(UNAUDITED)
<TABLE>
<CAPTION>
Four Quarters
Three Months Ended Ended
Mar. 28, June 28, Oct. 3, Jan. 2, Jan. 2,
1997 1997 1997 1998 1998
--------- --------- --------- --------- --------------
<S> <C> <C> <C> <C> <C>
Revenue
Backup Exec for NT license $ 16,333 $ 18,570 $ 23,184 $ 28,537 $ 86,624
Other product
license/support/maintenance 17,787 16,493 16,013 15,579 65,872
--------- --------- --------- --------- ---------
Total revenue $ 34,120 $ 35,063 $ 39,197 $ 44,116 $ 152,496
Cost of revenue 5,458 5,496 6,291 5,109 22,354
--------- --------- --------- --------- ---------
Gross Profit 28,662 29,567 32,906 39,007 130,142
Operating expenses
Sales and marketing 17,110 17,653 15,993 17,391 68,147
Research and development 8,189 8,723 8,005 7,898 32,815
General and administrative 7,859 6,508 6,016 5,563 25,946
--------- --------- --------- --------- ---------
Total operating expenses 33,158 32,884 30,014 30,852 126,908
Income/(loss) from operations before
in-process research and development,
amortization of goodwill and intangibles,
--------- --------- --------- --------- ---------
restructuring and unusual items (4,496) (3,317) 2,892 8,155 3,234
--------- --------- --------- --------- ---------
In-process research and development -- -- -- -- --
Amortization of goodwill and intangibles 3,606 3,127 3,058 3,050 12,808
Restructuring costs -- 2,524 -- -- 2,524
Unusual items - writeoff
goodwill/intangibles 11,004 -- 1,900 12,937
Unusual items - writeoff of inventory 1,312 350 1,662
--------- --------- --------- --------- ---------
Income/(loss) from operations ($ 19,105) ($ 8,968) ($ 1,478) $ 2,855 ($ 26,696)
========= ========= ========= ========= =========
</TABLE>
SOURCE: Seagate Software
4
