broadcom acquires symantec


Chipmaker Broadcom is buying cybersecurity company Symantecs enterprise security business for $10.7 billion in cash. SAN JOSE, Calif., Nov. 4, 2019 /PRNewswire/ -- Broadcom Inc. (NASDAQ: AVGO), a global technology leader that designs, develops and supplies semiconductor and infrastructure software solutions, today announced that it has completed its acquisition of the Enterprise Security business of Symantec Corporation (NASDAQ: SYMC). Enterprise Merger and acquisition Security Security Management. The deal gives Broadcom ownership of Symantec's entire enterprise security business as well as the Symantec Analysts and Accenture themselves weigh in on the deal. Dial in #: US (866) 610-1072, International +1 (973) 935-2840 However, Broadcom now intends to utilize excess cash flow beyond its dividend payments to focus on rapidly paying down debt as opposed to stock repurchases. Hock Tan, President and Chief Executive Officer of Broadcom, said, "M&A has played a central role in Broadcom's growth strategy and this transaction represents the next logical step in our strategy following our acquisitions of Brocade and CA Technologies. If the Symantec deal doesnt go through, Broadcom could work on a plan to acquire infrastructure software company Tibco. This announcement contains forward-looking statements (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended) relating to Broadcom. The transaction is expected to generate more than $1 billion of run-rate cost synergies within 12 months following close. Broadcom Acquires Bay Dynamics: Symantec Partner Benefits. For more information, go to www.broadcom.com. The term "Broadcom" refers to Broadcom Inc. and/or its subsidiaries. Broadcom Inc., (NASDAQ: AVGO), a Delaware corporation headquartered in San Jose, CA, is a global technology leader that designs, develops and supplies a broad range of semiconductor and infrastructure software solutions. Copyright 2005 - 2020 Broadcom. In addition to GAAP reporting, Broadcom provides investors with net income, operating income, gross margin, operating expenses and other data, and has previously provided net revenue data, on a non-GAAP basis. Contacts Alison Geib Accenture +1 703 947 4404 alison.geib@accenture.com Denise The security software company saw Broadcom will host a conference call to discuss details of the transaction. Our filings with the SEC, which you may obtain for free at the SEC's website athttps://www.sec.gov, discuss some of the important risk factors that may affect our business, results of operations and financial condition. Yahoo Finance's Alexis Christoforous and Brian Sozzi speak to Scott Gamm. Following the closing of the transaction, Broadcom will own and incorporate the Symantec brand name into the Broadcom portfolio. SAN JOSE, Calif., Aug. 8, 2019 /PRNewswire/ -- Broadcom, Inc., (NASDAQ: AVGO), a global technology leader that designs, develops and supplies semiconductor and infrastructure software solutions, today announced an agreement to acquire the enterprise security business of Symantec Corporation (NASDAQ: SYMC) for $10.7 billion in cash. A replay of the call will be available for one week by dialing (800) 585-8367 (US) or +1 (404) 537-3406 (International) and the passcode is 7958018. A reconciliation of Broadcom's GAAP to non-GAAP historical financial data is available in the Investor Center on its website. "Symantec's Enterprise Security business expands our footprint of mission critical infrastructure software for the Global 2000. We undertake no intent or obligation to publicly update or revise any of the estimates and other forward-looking statements made in this release, whether as a result of new information, future events or otherwise, except as required by law. Broadcom's category-leading product portfolio serves critical markets including data center, networking, enterprise software, broadband, wireless, storage and industrial. Broadcom Said to Be in Talks to Buy Symantec, the Security Software Maker Any deal would most likely value Symantec at more than $15 billion, two people briefed on the matter said. 408-433-8000investor.relations@Broadcom.com, Joele Frank / Steve Frankel / Andi RoseJoele Frank, Wilkinson Brimmer Katcher Symantec is an enormous company currently valued at ~$15.5 billion and would offer Broadcom further market share in the infrastructure software business. 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