Broadcom Pushes Deeper Into Software With Symantec Acquisition

Publish date:
Video Duration:

Symantec (SYMC) - Get Report is Real Money's Stock of the Day.

Shares of the cybersecurity firm are surging today amid reports that firm could be bought by chipmaker Broadcom (AVGO) - Get Report .

Talks between the two groups are reportedly at an advanced stage, with Broadcom looking to add Symantec's $4 billion in annual sales, led by its Norton and LifeLock product suites, to offset the recent slump in revenues from its semiconductor solutions business.

RELATED: Broadcom's Interest in Symantec Is All About This One Big Thing (Real Money)

RELATED: Invest in Symantec? I Like Zscaler Better (Real Money)

Following Broadcom's purchase of CA last year, it is clear that there is less of focus on hardware when it comes to their M&A strategy and more about building out the software to go with their hardware.

This news comes amid concerns that increased tensions in the U.S.-China trade war, and the blacklisting of Huawei, could disrupt global semiconductor demand.

For more in depth coverage of the Broadcom's acquisition of Symantec get over to our premium site

What Stocks and Sectors Investors Should Watch During the Second Half of 2019

Related Videos