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.*
Merry Marwig is a market research analyst at G2 focused on the privacy and data security software markets. Using G2’s dynamic research based on unbiased user reviews, Merry helps companies best understand what privacy and security products and services are available to protect their core businesses, their data, their people, and ultimately their customers, brand, and reputation. Merry's coverage areas include: data privacy platforms, data subject access requests (DSAR), identity verification, identity and access management, multi-factor authentication, risk-based authentication, confidentiality software, data security, email security, and more.