Broadcom confirms $10.7B Symantec enterprise unit acquisition

Thursday, 08. August 2019 22:21

Chipmaker Broadcom Inc. confirmed earlier reports on Thursday of its acquisition of Symantec's enterprise security business.

The $10.7 billion deal "will significantly expand Broadcom's infrastructure software footprint as it continues to build one of the world's leading infrastructure technology companies," according to a statement from Broadcom.

Earlier this year, Broadcom planned to purchase the whole Symantec but the negotiations ended in mid-July after the cybersecurity software maker refused to accept any offer under $28 per share.

Shares of Symantec rocketed 12.30% to $22.92 at the end of trading.

Related Links: Symantec CorporationBroadcom Inc.
Breaking the News / JC