Symantec announced the sale of its Veritas information management business to The Carlyle Group for $8 billion. This will allow Symantec to focus on growing its security business and unlock more value as the world's largest cybersecurity company. Symantec expects to receive net proceeds of $6.3 billion from the sale. It plans to use the funds to invest in new security products and services, continue its dividend, and purchase $2.6 billion of its own stock over the next 18 months to return value to shareholders. The sale is expected to close by the end of the third quarter of fiscal year 2016.