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Veritas Technologies

Veritas Technologies – Started Creating A Computer System Using The Concept Of “Shoe Box”.

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Veritas Technologies is a market leader in the area of multi-cloud data management. The company offers its services to over 80,000 clients, including several Fortune Global 500 companies, to support their data’s security, compliance, and reusability. 

About The Company 

Founded in 1983 as Tolerant Systems, Veritas is an American company in the international information/data management business. The company is headquartered in California, USA. In the past 30 years, Veritas has assisted corporate clients in navigating every disruptive technology shift. The company’s integrated data protection and management strategy offer unparalleled versatility, efficiency, and cost benefits. Some of the company’s popular products and services include Access, VxFS, VxVM, NetBackup, NetBackup Appliances, Backup Exec, Cluster Server (VCS), Enterprise Vault, and Enterprise Vault. cloud, Enterprise Administrator, Volume Replicator (VVR), SANPoint, eDiscovery Platform, APTARE IT Analytics, etc.

Veritas Technologies
Image source: freshersindia.in

History

In 1983 Tolerant Systems was formed with the goal of creating a fault-tolerant computer system using the concept of “shoe box” building components. The “Eternity Series” was the name given to this computer system. This shoe box contained two 320xx processors. The OS processor ran on TX( version of Unix) while the I/O processor supported Tolerant’s Real Time Executive. The company initially collaborated with AT&T to supply the disc management and file management software for the latter’s UNIX operating system and cooperatively supported and promoted the products to System OEMs. Veritas received royalties on the sales of the OEMs. In 1993, the company launched its IPO, and its business was valued at $64 million. In 2001, the sector saw a significant decline as the internet bubble burst. Despite this, Veritas expanded its revenue by 25% to $1.5 billion and maintained 25% operating margins. In 2004, the company merged with Symantec( now NortonLifeLock). Prior to this, the company was listed on NASDAQ-100 and S&P 500. Later in 2014, in order to concentrate on security, Symantec de-merged its data management business as Veritas Technologies. As part of this de-merger, Carlyle Group, a private equity company, acquired Veritas for $8 billion.

Acquisitions

Veritas generated $36 million in revenue by the end of 1996. For $4.2 million in equity, the company bought Tidalwave Technologies, which specialised in the High Availability of cross-platform software. Veritas entered the backup industry in 1997 when it purchased OpenVision Technologies, including NetBackup, a comparable-sized public company. In 1998 it acquired Seagate NSMG. In 2000, the company generated 1.2$ billion in revenue and was included in the S&P 500 and Fortune 1000. Veritas rose to the world’s tenth-largest software company by revenue and third-largest by market cap. In 2003, for a total of about $609 million, it purchased Israel’s Precise Software Solutions, a leading company in Application Performance Management (APM).

Founder – Mark Leslie

Veritas Technologies was founded by Mark Leslie, who also served as its CEO. As the CEO and Chairman, Veritas expanded to rank among the ten leading independent software companies and earned the distinction of joining the Fortune 1000. Mark Leslie is an entrepreneur, corporate executive, venture capitalist, and professor. He also teaches management courses at the Stanford Graduate School of Business. He also serves as managing director of the private investment firm Leslie Ventures. In 1996 Leslie received a Bachelor of Arts degree from NYU. He participated in the Harvard Business School’s management development program in 1980. Leslie started his first firm, Synapse Computer Systems, in 1980.

CEO – Greg Hughes

Greg Hughes is the current CEO of Veritas. He has over twenty years of executive experience in enterprise software. Before joining Veritas, he developed and oversaw the Software Practice at McKinsey & Company. Greg has degrees from the Massachusetts Institute of Technology and Stanford University’s Graduate School of Business.

Genius Sports

Genius Sports – A Young Startup That Has Become The Current Talk Of The Sports Data Industry.

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Being the messiah in the world of sports data and technology, Genius Sports is known for organizing, optimizing, and creating unique sports experiences. The company was founded in 2016 as a result of a merger between two companies. Currently, the headquarters of the company is based in London, UK. Genius Sports is mainly responsible for offering software to various sports leagues and federations. Various services like data management, video streaming, and integrated services are also provided by the company. Various sports allow the company (giving rights) to commercialize their data and video content with authorities like media companies and casinos. 

About Genius Sports

Being founded only five years ago, Genius Sports is currently one of the fastest-growing sports technology companies across the globe. The company now employs more than 1,800 people around the world with major offices in New York City, Tallinn, Los Angeles, Medellin, and many more. The company is catering toward building a more sustainable sports ecosystem with a fair share of engagement, commercial benefits, and competitiveness. To date, the company has covered around 240,000 sports events and established more than 600 long-term partnerships. In April 2021, the company got listed on the New York Stock Exchange through a special purpose acquisition company, dMY Technology Group. 

Genius Sports
Image source: www.americanfootballinternational.com

A Merger Between Two Companies

In 2016, Mark Locke decided to merge his company, Betgenius and SportingPulse International. The newly formed company was called Genius Sports which became a perfect blend of sports technology, data supplier, and the betting industry. One year after the merger, Sports Genius started acquiring several other companies starting with Data Project, a volleyball technology provider. In the same year, the PGA Tour launched a new integrity program for mainly preventing betting-related corruption. The company was selected to support this integrity program through close monitoring and educational services. 

In 2018, a new statistics initiative was announced by the National Collegiate Athletic Association (NCAA) for all its members alongside Genius Sports. In the same year, Apax Partners acquired Genius Sports but even after the acquisition, Locke continued as the CEO of the company. Later in 2018, Football Data Co. came into an agreement along with Genius Sports and Perform Group to protect the football leagues in England and Scotland against match-fixing. This was for the first time that two technology companies combined for the mentioned reason.

Expansion

As the company was eventually landing deals with various types of sports leagues, in 2019 it struck a deal with NASCAR stock-car racing association. Genius Sports chose to strike a deal with this organization to become the exclusive provider of NASCAR data to licensed sportsbooks across the world. In the same year, it made a deal with Football DataCo for being the official supplier of live data. The company also partnered with the German Football Association and Superliga Argentina to help prevent match-fixing and unhealthy sports betting. In October 2020, the company acquired Oppia Performance, a video production, and streaming company. In 2021, Company partnered with the National Football League, WynnBET, Canadian Football League, and many other famous and influential organizations in the sports industry. 

Mark Locke – CEO of Genius Sports

Mark Locke is not only the CEO of Genius Sports but also its co-founder. Locke has more than fifteen years of experience in both the sports technology and media industry. His entrepreneurial journey started when he launched Betgenius in 2001 and currently it is a part of the Genius Sports Group. Locke, in 2015, recognized the huge potential hidden between the intersection of sports and the betting industry. This is the reason why he decided to merge Betgenius and SportingPulse International. Locke also has a history in telecommunications and ventures for property management.