Broadcom, the world’s second largest chipmaker and supplier of data center technologies, is acquiring Symantec’s enterprise security business for $10.7 billion. The deal includes selling the Symantec name to Broadcom and is in line with Broadcom’s strategy to diversify its revenue streams and portfolio to include software and services as chip-manufacturing growth slows.
Broadcom aims to create a leading technology infrastructure company offering hardware, software, and services in what is currently a fragmented market. In 2018, Broadcom acquired CA Technologies, which offers developer tools to write and test applications, for $18.9 billion. The acquisition of Symantec—whose broad product offerings include Symantec Endpoint Protection, currently a Leader in G2's Endpoint Protection Suites category—will round out Broadcom's enterprise security offerings to its target customers: Global 2000 companies.
Meanwhile, the remaining consumer and small-business side of Symantec will continue to focus on its renowned products, Norton Antivirus and LifeLock identity threat protection products (which it acquired in 2016), albeit under a different name yet to be announced.
This acquisition suggests Broadcom intends on integrating infrastructure technologies and bringing more complete solutions including hardware, software, and services to its enterprise customer base.
*Disclaimer: I am not a lawyer and am not offering legal advice. If you have legal questions, consult a licensed attorney.*
by Sarah Wallace
by Tian Lin