Date
22 October 2019
Broadcom's proposed purchase of Symantec would be the second major acquisition of a cybersecurity provider by a chipmaker. Photo: Bloomberg
Broadcom's proposed purchase of Symantec would be the second major acquisition of a cybersecurity provider by a chipmaker. Photo: Bloomberg

Broadcom in advanced talks to buy Symantec: report

Chipmaker Broadcom Inc. is in advanced talks to buy cybersecurity firm Symantec Corp., Reuters reports, citing sources familiar with the matter.

A deal would expand the chipmaker’s push into software a year after its US$18.9 billion deal to buy US business software company CA Inc. It also follows Broadcom’s failed bid to buy Qualcomm Inc.

Broadcom chief executive Hock Tan has built the company through a series of ambitious deals. As CEO of Avago, Tan pulled off the acquisition of Broadcom for US$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.

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