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Broadcom + Symantec: Great for Wall Street, Not for Security

Posted by Menlo Security on Oct 25, 2019

August 8, 2019, was a great day on Wall Street, as Broadcom announced their intent to acquire Symantec’s enterprise business for $10.7 billion in cash. Symantec’s stock moved up more than 12 percent on the expected announcement. This jump might not seem like a huge premium, but given that Symantec’s revenue was in decline during its prior fiscal year in one of the hottest technology segments, we think the price tag was generous. Broadcom’s own statements reinforce the financial benefits:

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Tags: Secure Web Access, Symantec

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