Announced
Completed
Financials
Tags
Majority
software development
Friendly
United States
Acquisition
cyber security services
Software
Private
Single Bidder
Completed
Domestic
Synopsis
Broadcom, an American designer, developer, manufacturer and global supplier of a broad range of semiconductor and infrastructure software solutions, completed the acquisition of the enterprise security unit of Symantec, a cybersecurity company, for $10.7bn in cash. “This is a transformative transaction that should maximize immediate value to our shareholders while maintaining ownership in a pure play consumer cyber safety business with predictability, growth and strong consistent profitability. In addition it allows the Enterprise Security business to grow and compete on an enterprise platform with a worldwide sales and distribution reach which can service our existing customers. It also allows our Norton LifeLock business, a world recognized leader in consumer and small business cyber safety to operate independently and give investors a clear understanding of the growth opportunity and strong financial performance,” Rick Hill, Symantec Interim President and CEO.
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