Business Broadcom Close To Buying Symantec’s Enterprise Business

Business Broadcom Close To Buying Symantec’s Enterprise Business

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Broadcom Close To Buying Symantec’s Enterprise Business (wsj.com)

Posted
by

BeauHD

on Thursday August 08, 2019 @09:00AM

from the red-light-green-light dept.

phalse phace writes: Broadcom’s on-again, off-again talks to buy Symantec are on again, but this time Broadcom is just interested in Symantec’s Enterprise Business.

According to the Wall Street Journal: “Broadcom is nearing a deal to buy Symantec’s enterprise business after its attempted purchase of the entire cybersecurity firm fell apart. A deal for the Symantec business could be announced as early as Thursday, when Symantec reports its results, according to people familiar with the matter. The deal could value the Symantec division at around $10 billion, one of the people said. Broadcom had previously been in late-stage discussions to buy all of Symantec before the talks collapsed last month. Since then, the two sides have restarted discussions, with Broadcom zeroing in on the Symantec business that serves businesses and accounts for roughly half its $5 billion in annual revenue. The consumer segment accounts for the rest. The deal would be big for Symantec. Its entire market value is about $12.6 billion — it has more than $2 billion of net debt — compared with about $107.6 billion for Broadcom.” UPDATE: It’s official, Broadcom is acquiring Symantec’s Enterprise Business for $10.7 billion.

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