Broadcom Said To Be In Talks To Buy Symantec, the Security Software Maker

An anonymous reader quotes a report from Bloomberg: Broadcom is in advanced talks to buy cybersecurity firm Symantec, according to people familiar with the matter, seeking a further expansion into the more profitable software business. Broadcom could reach an agreement to buy the Mountain View, California-based company within weeks, said the people, who asked to not be identified because the matter isn’t public. No deal has been finalized and the talks could fall through, the people said. “Broadcom’s potential purchase of another asset with $4+ billion in software sales is likely its most ambitious deal yet — leaderless Symantec has been losing share, even in its core segments,” says Bloomberg’s technology analyst Anand Srinivasan. “Broadcom CEO Hock Tan will likely need to aggressively cut Symantec costs while keeping sales stable.” The report also adds that if this deal does happen, it “would mark Broadcom’s second big bet in software, following its $18 billion takeover last year of CA Technologies.”