Broadcom Set Its Sights to Acquire Symantec
Broadcom is reportedly in discussion to acquire the security software maker, Symantec. According to the reports, the semiconductor company would be securing a deal of no less than USD 15 billion.
The announcement comes after Broadcom had acquired CA Technologies last year. After the Trump administration denied the company’s attempted acquisition of Qualcomm, CEO Hock Tan surprised the industry with the abrupt move from the semiconductor space to the software business. This is what led to the acquisition of CA.
A purchase of Symantec would bring Broadcom a fresh chance to sort out a large, underperforming software company, according to the FT.
The people involved in the matter have denied commenting although a proper announcement on the deal could be made after the Fourth of July holiday or could fall apart.
