Micro-chips maker Broadcom is in advance talks to buy Symantec enterprise business according to the familiar with the matter. It’s possible that a deal is reached by the time Symantec announces earnings on Thursday, but negotiations could last longer, the sources said.
What is Broadcom?
According to Wikipedia – Broadcom Inc. is an American designer, developer, manufacturer and global supplier of a broad range of semiconductor and infrastructure software solutions. Broadcom’s product portfolio serves the data centre, networking, software, broadband, wireless, and storage and industrial markets.
Deal With Symantec
Shares of Symantec, which has a market value of $12.63 billion (roughly Rs. 89,485 crores), rose 14 percent in extended trading, while those of Broadcom fell 1 percent.
Symantec last month walked away from negotiations to sell itself to Broadcom over price disagreements, Reuters had reported, citing people familiar with the matter.