Broadcom seeking to buy Symantec for $15 billion

Posted on Thursday, July 04 2019 @ 10:29 CEST by Thomas De Maesschalck
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Word is going around that Broadcom is in advanced talks to buy security firm Symantec. The latest figure from FT values the deal at around $15 billion.

Bloomberg notes this would be Broadcom's second big bet in software, following last year's $18 billion acquisition of CA Technologies. Analysts speculate Broadcom's goal here is to further expand into the more profitable software business. Symantec sells over $4 billion in products a year but has been losing marketshare and will likely need aggressive cost cutting.
“Symantec would make a perfect fit for the Broadcom portfolio,” Harsh Kumar, an analyst at Piper Jaffray wrote in a note to investors. He said the situation is similar to Broadcom’s CA acquisition, “which ultimately turned out to be extremely successful under the Broadcom umbrella.”
Negotiations are still busy and the deal may be finalized later this month.


About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.



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