Security outfit Symantec might be bought out by a pair of private equity (PE) firms seeking to acquire its consumer business for $16.4 billion
London-based Permira Holdings has teamed up with US-based Advent International to offer a deal that would value the company at between $26 and $27 a share – valuing the organisation at $16.4 billion.
The deal would include its Norton antivirus software and VPN service along with its LifeLock identity theft protection services.
Last month Symantec split in two as it sold its enterprise division for $10.7 billion to US chip maker Broadcom.
The PE buyout wouldn’t affect this deal, but they added that a deal to buy the entire company would be more tax efficient for Symantec’s shareholders.
It is unclear whether the PE firms would buy Symantec whole and then move forward with the Broadcom acquisition, or wait for that deal to go through before buying the consumer unit – or whether a deal will even be struck
