7/5/2019, 7:17 PM (Source: TeleTrader)
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Broadcom interested in Symantec, Tibco – reports

Anonymous sources quoted in media reports revealed Broadcom Corp. is negotiating about a potential acquisition of cybersecurity software maker Symantec Corp. After purchasing CA Technologies last year for $19 billion, the chipmaker is said, according to leaks which emerged on Friday, to be pursuing the struggling company from Mountain View, California, which specializes in cybersecurity solutions. Broadcom was blocked by United States President Donald Trump in 2018 in the attempt to take over fellow semiconductor manufacturer Qualcomm.

The apparent reserve move would be directed at Tibco Software Inc. The infrastructure-focused potential target, also based in California, is under the control of Vista Equity Partners since 2014. In case the Symantec deal comes through, the second option may be postponed or shelved, insiders said and claimed chief executive Hock Tan is aspiring to execute a large transaction before the end of the year.

Breaking the News / IT