Broadcom is in “advanced talks” to acquire struggling security firm Symantec for $15 billion.
Apparently a deal will be announced in a matter of weeks and Symantec’s share price rose by over 25 percent after reports of Broadcom’s rumoured bid emerged.
The cybersecurity outfit has endured a troubling time of late, with its CEO recently stepping down after reporting disappointing results, being replaced by an interim boss.
Activist investor Starboard took a sizeable position in Symantec last year, before reshuffling the boardroom.
So far there is nothing official on the rumours but Broadcom is rather aggressive on the merger and investment front and Symantec is ripe for the picking. Broadcom has been getting much more interested in software too after it bought CA Technologies, in an $18.9 billion deal.
