Symantec reportedly has two new suitors, this time for its very lucrative consumer security business. The takeover deal would value Symantec stock at between $26 and $27 a share, valuing the company at about $16.4 billion. As might be expected, Symantec stock surged on Friday following the news of the possible buyout, jumping 4.5% to $24.52. What’s next here as it relates to the Broadcom acquisition?
Broadcom Growth by Acquisition Strategy Continues with $10.7B Symantec Acquisition
Broadcom’s $10.7B acquisition of Symantec’s enterprise security business moves forward, as Avago’s ‘growth by acquisition’ strategy continues to play out. Semiconductors is one business, enterprise security software, an entirely different one. It will be interesting to watch how Avago’s Hock Tan and his penchant for streamlining operations impacts the company post-acquisition.
Broadcom Explores Symantec Purchase — A Good Thing, or Not So Much?
Broadcom explores Symantec purchase. Is it really smart diversification, or simply a way to impress shareholders? I’m not so sure. In fact, I’m bearish on this move, mostly for Symantec. However, don’t be surprised if it happens, as Tan is known to be a shrewd negotiator and one who will make the deals he needs to happen to get shareholders the value they are looking for.