- Feb 17, 2018
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Broadcom to Acquire Symantec Enterprise Security Business for $10.7 Billion in Cash
Chipmaker Broadcom is buying cybersecurity specialist Symantec Corporation's enterprise security business for $10.7 billion in cash, the companies announced Thursday.
The deal signals Broadcom's continued efforts to diversify beyond its main memory-chip business. Symantec (SYMC) is America's largest cybersecurity company. Its anti-virus software helps companies thwart cyber threats across their physical devices and in the cloud.
Chipmaker Broadcom is buying cybersecurity specialist Symantec Corporation's enterprise security business for $10.7 billion in cash, the companies announced Thursday.
The deal signals Broadcom's continued efforts to diversify beyond its main memory-chip business. Symantec (SYMC) is America's largest cybersecurity company. Its anti-virus software helps companies thwart cyber threats across their physical devices and in the cloud.
Previously, Broadcom acquired network equipment maker Brocade in 2017 and enterprise security company CA Technologies in 2018. The company said following the Symantec acquisition in the first quarter of 2020, it expects 29% of its total revenue to come from software, up from a projected 22% in 2019.
Broadcom aims to "build one of the world's leading infrastructure technology companies across hardware and software," CEO Hock Tan said on a call with analysts on Thursday.
The proposed acquisition is still subject to antitrust approval. And it comes just over a year after Broadcom's $117 billion bid for rival Qualcomm was blocked by President Donald Trump over national security concerns.
Broadcom to Acquire Symantec Enterprise Security Business for $10.7 Billion in Cash | Broadcom Inc.
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Broadcom to acquire Symantec's enterprise security software business
Chipmaker Broadcom is buying cybersecurity specialist Symantec Corporation's enterprise security business for $10.7 billion in cash, the companies announced Thursday.
edition.cnn.com
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