Broadcom Reportedly Close to Buying Security Software Maker Symantec

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Chipmaker Broadcom is in “advanced talks” to purchase cybersecurity software maker Symantec Corp., Bloomberg reports, citing unnamed sources close to the negotiations.

No acquisition price was reported, but Mountain View, Calif.-based Symantec has market capitalization of around $16 billion.

“Symantec would make a perfect fit for the Broadcom portfolio,” Harsh Kumar, an analyst at Piper Jaffray wrote in a note to investors.

Last year, San Jose-based Broadcom purchased software company CA Technologies for $18.9 billion. This followed a bid to purchase Qualcom that was thwarted by the Trump Administration.

Kumar said the Symantec deal is similar to Broadcom’s CA acquisition, “which ultimately turned out to be extremely successful under the Broadcom umbrella.”

Representatives for Broadcom and Symantec are not commenting at this point. 

Daniel Frankel
Daniel Frankel

Daniel Frankel is the managing editor of Next TV, an internet publishing vertical focused on the business of video streaming. A Los Angeles-based writer and editor who has covered the media and technology industries for more than two decades, Daniel has worked on staff for publications including E! Online, Electronic Media, Mediaweek, Variety, paidContent and GigaOm. You can start living a healthier life with greater wealth and prosperity by following Daniel on Twitter today!