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Broadcom Nears Deal to Buy Symantec Enterprise Unit

  • Deal may value corporate division at roughly $10 billion
  • Symantec divestiture could be announced as soon as Thursday
Bloomberg business news
Broadcom Nearing Deal to Buy Symantec Enterprise Unit

Broadcom Inc. is nearing an agreement to buy the division of Symantec Corp. that serves large corporate customers for roughly $10 billion in cash after talks for a full acquisition of the cybersecurity company failed, according to people familiar with the matter.

A deal for Symantec’s enterprise unit would come less than a month after the companies’ discussions for a full merger fell apart over disagreements about the price. Such a transaction would reshape Symantec to focus on its consumer-facing products, such as the LifeLock identity-protection brand and Norton anti-virus software.