Broadcom close to deal to acquire Symantec - report

News Broadband Global 3 JUL 2019
Broadcom close to deal to acquire Symantec - report

Broadcom is in advanced talks to buy cybersecurity firm Symantec, sources familiar with the matter told Bloomberg. The takeover is expected to help Broadcom diversify its business beyond semiconductors, after already buying software company CA last year. 

Shares of Symantec rose 22 percent in after-hours trading, while Broadcom fell 4 percent.

A Symantec spokesperson said the company does not comment on speculation. Broadcom was not immediately available for comment, Reuters reported.

Reports last year suggested private equity firm Thomas Bravo was looking at acquiring Symantec. The firm last year acquired Broadcom's Veracode business. 

Categories:

Internet

Companies:

Broadcom,  Symantec

Regions:

Global

Tags:

Security, IT - applications, M&A buyouts & divestments

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