Broadcom is close to Symantec acquisition

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The American chip maker Broadcom is about to take over cyber security company Symantec. The deal has a value of more than $ 15 billion, insiders said.
 
The transaction may already be announced Wednesday, although a definitive agreement has not yet been signed. There is also a chance that the announcement will be postponed until after July 4, a national holiday in the United States. According to experts, an acquisition of Symantec shows that the chip maker is investing his money and strategic course on software companies, after a deal with rival Qualcomm failed last year.

Symantec is a pioneer in the field of antivirus software such as Norton AntiVirus, but has been looking for a new course in recent years. The company wore out a series of top executives and pulled out the billions for billions, including for company security company Blue Coat Systems.

The Symantec share in the US stock exchange trade increased by about a fifth. In concrete terms, that added around 3 billion dollars in market value. However, the Broadcom share slipped more than 4 percent, causing around $ 5 billion in market value to evaporate.


By: Oliver I. Kjeldsen

Oliver I. Kjeldsen has a corporate finance and extensive expertise in company audit. He grants us amazing insights on taxation, international affairs and friendly advice on nearly any topic of interest. His email is [email protected]

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