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

Science & Technology

Apple starts testing Chinese OLED screens for iPhone 12

Analysts: Google Search is losing clicks

Microsoft admits wiretapping users

French Optic 2000 unveils smart glasses

You Can Wear Your New Air Conditioner With Your Clothes

Research: Anonymous data is not so anonymous anymore

Tech giants face stricter government regulation in the US

Nestle's Head: Veggie meat is new megatrend

Huawei may introduce Android replacement in August

Are US high-tech investors causing brain drain in Europe?

World Politics

World & Politics

European Social Democrats are losing ground

Hong Kong's richest citizen calls to stop violence and unrest in the city

UK railway operators exit Interrail system

Dozens of British Airways flights canceled or delayed due to computer malfunction

China keeps importing Iranian oil in spite of US sanctions

Marijuana legalization: Did Canada benefit from cannabis boom?

Republicans and Democrats focus on carbon pricing

Iran Hints It May Swap Seized Tankers With The UK