Broadcom in advanced talks to buy Symantec – sources
By Greg Roumeliotis
(Reuters) – Chipmaker Broadcom Inc is in advanced talks to buy cybersecurity firm Symantec Corp, according to sources familiar with the matter.
A deal would expand the chipmaker’s push into software a year after its $18.9 billion (15 billion pounds) deal to buy U.S. business software company CA Inc. It also follows Broadcom’s failed bid https://reut.rs/2xn5gVE to buy Qualcomm Inc.
Broadcom’s Chief Executive Officer Hock Tan has built the company through a series of ambitious deals https://reut.rs/2XnqvWO. As CEO of Avago, Tan pulled off the acquisition of Broadcom for $37 billion, bringing the two companies under one umbrella name of Broadcom.
A Broadcom-Symantec deal would be the second major acquisition of a cybersecurity provider by a chipmaker, after computer processor maker Intel Corp bought California-based McAfee in 2011.
However, Intel sold a majority stake in McAfee to investment firm TPG after a failed effort to stake out a major position in the computer security business.
News of the talks between Broadcom and Symantec were first reported by Bloomberg.
A Symantec spokesperson said the company does not comment on speculation. Broadcom was not immediately available for comment.
(Reporting by Bharath Manjesh in Bengaluru; Greg Roumeliotis in New York; Editing by Bill Rigby and Cynthia Osterman)
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