Daily Management Review

Broadcom to buy Symantec


The semiconductor manufacturer expects to increase annual revenue by $ 2 billion through the deal.

Florian Knodt
Florian Knodt
One of the leaders in semiconductor manufacturing - Broadcom – is buying a division of the American Symantec, a leader in computer security. According to information published on the Broadcom website, the company will pay $ 10.7 billion for the purchase. Although earlier, the deal was estimated at $ 15 billion.

"Broadcom is global technology leader, who designs, develops and supplies semiconductors and software infrastructure solutions, today announced an agreement to buy Symantec's $ 10.7 billion cash business in cash. Symantec's security portfolio will significantly expand its infrastructure footprint Broadcom," said the American semiconductor manufacturer.

The company hopes that the deal will make it possible to additionally earn $ 2 billion a year, while $ 1.3 billion will be saved.

The firm confirmed that this year it intends to implement the set revenue plan of $ 22.5 billion. The forecast was indicated in the Broadcom quarterly report published in June.

It is planned to close the deal in the first quarter of 2020, but at first it must be approved by regulators in the United States, EU and Japan.

source: cnbc.com