Veritas targets compliancy market

Veritas Software will make its next billion dollars from corporate governance as companies around the world struggle with compliancy issues, the firm claims.

The traditional storage software vendor is extending its market reach in its quest to become a $5bn company, competing with the software heavy-hitters like Microsoft, Oracle and SAP.

Having identified utility computing as its next big target area at its annual Vision user conference in May (Computing, 15 May), the company is now taking steps to get a piece of the corporate governance action.

'We think corporate governance is an enormous opportunity,' he told Computing. 'When we talk to chief information officers around the world they all say this is a real pain point.'

Veritas has announced Data LifeCycle Manager 5.0, a new product available early next year, designed with compliance in mind.

'This is a market that can be measured in hundreds of millions of dollars and we believe we are perfectly positioned to go capture it,' said Bloom.

Veritas chief marketing officer Jeremy Burton says corporate governance is a natural extension to its existing data backup and retrieval business, and is an area that will generate significant revenue for the company.

'Compliance is not strictly a new market for Veritas, it's an extension to, or growth market for, data protection,' he said.

'Today that data protection market is $2bn and we have half of it. It's going to be $3bn by 2006 and that will be driven by regulatory compliance and it will certainly grow our core business,' he said.