Reports indicate a deal could be made by mid-July as Broadcom secures financing for the purchase.
Broadcom has reportedly taken steps toward its acquisition of Symantec with newly secured lending commitments and identification of areas for cost savings, according to Bloomberg.
The all-cash transaction, which could be finalized as early as mid-July if progress continues, values Symantec at $22 billion, including debt, sources say. Broadcom has allegedly secured financing from several banks and foresees synergy potential of $1.5 billion. This would be its second big investment in software; Broadcom bought CA Technologies for $18 billion in 2018.
Broadcom is not the only company interested in the security company, the report points out. Former Symantec CEO Greg Clark has partnered with Permira Holdings and Advent International to attempt a buyout; so far, the team hasn't been able to offer a competing price.
Read more details here.
Black Hat USA returns to Las Vegas with hands-on technical Trainings, cutting-edge Briefings, Arsenal open-source tool demonstrations, top-tier security solutions, and service providers in the Business Hall. Click for information on the conference and to register.
About the Author(s)
You May Also Like
Securing Code in the Age of AI
April 24, 2024Beyond Spam Filters and Firewalls: Preventing Business Email Compromises in the Modern Enterprise
April 30, 2024Key Findings from the State of AppSec Report 2024
May 7, 2024Is AI Identifying Threats to Your Network?
May 14, 2024Where and Why Threat Intelligence Makes Sense for Your Enterprise Security Strategy
May 15, 2024
Black Hat USA - August 3-8 - Learn More
August 3, 2024Cybersecurity's Hottest New Technologies: What You Need To Know
March 21, 2024