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Broadcom to acquire Symantec Enterprise security business for $10.7 billion in cash

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Christian Fernsby ▼ | August 9, 2019
Symantec Corporation
Acquisition   Symantec Corporation

Broadcom announced an agreement to acquire the enterprise security business of Symantec Corporation for $10.7 billion in cash.

The addition of Symantec's enterprise security portfolio will significantly expand Broadcom's infrastructure software footprint as it continues to build one of the world's leading infrastructure technology companies.

The transaction is expected to drive more than $2 billion of sustainable, incremental, run-rate revenues and approximately $1.3 billion of Pro Forma EBITDA, including synergies.

The transaction is expected to generate more than $1 billion of run-rate cost synergies within 12 months following close.

Additionally, Broadcom expects to achieve double-digit cash-on-cash returns on its investment.

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