Symantec gains on report that Broadcom has secured funding to acquire the cybersecurity firm

Shares of Symantec gained more than 4% at their peak on Monday after a report that Broadcom had gotten the necessary financing to acquire the cybersecurity firm in an all-cash agreement. The deal could value the cybersecurity firm at more than $22 billion including debt, Bloomberg reported.
A deal between the two companies could be reached in mid-July, according to anonymous sources cited by Bloomberg. The sources said that the chipmaker has commitments from banks in place, sees an annual synergy potential of $1.5 billion, and although there is a timeline, talks could drag or even fall apart.
Symantec spiked as much as 17% when it was first reported that Broadcom was in "advanced talks" to acquire the company. Broadcom shares declined when the deal was announced, and are trading down more than 2% Monday.
Broadcom said earlier this year that it would focus on buying software companies after its $117 billion bid to take over competitor Qualcomm was blocked by the Trump administration. Part of the reason for the shift is cost — other independent semiconductor companies are too expensive, Tom Krause, Broadcom's CFO told Morgan Stanley.
By acquiring infrastructure software companies, Broadcom hopes to take advantage of an industry it sees as ripe for consolidation. The strategy doesn't make sense to everyone — in a note, a Morgan Stanley analyst wrote that the plan to buy Symantec doesn't make sense and will raise questions about the chipmaker's strategy.
Broadcom acquired CA Technologies, another software company, for $18.9 billion in July 2018. It was also reportedly considering buying Tibco, a cloud software company, according to CNBC, although that deal would be sidelined if the company is able to acquire Symantec.
source businessinsider
Industry: Cyber Security

Latest Jobs
-
- Senior Presales Consultant | Managed Security Services | London
- London
- N/A
-
Senior Presales Consultant – Managed Security Services Location: London-commutable (Hybrid) A well-established cyber consultancy is seeking a Senior Presales Consultant to drive growth across its managed security services / advisory portfolio. This hybrid role bridges commercial and technical expertise supporting solution design, shaping customer proposals, and guiding conversations from scoping through to delivery. Key experience: Background in managed security services, including SOC operations and threat detection Strong knowledge of cloud and on-prem security tooling (SIEM, EDR, IAM) Penetration testing Proven ability to translate technical concepts into clear business value Confident in customer-facing engagements and pre-sales delivery Experience contributing to bids, proposals, and RFI/RFP responses To find out more contact me on 07884666351 Visa sponsorship is unfortunately not available for this role.
-
- Senior SOC Engineer - Microsoft | Splunk. Permanent. London
- London
- N/A
-
Senior SOC Engineer – Hybrid London Type: Full-Time A well-established cyber security provider is seeking a Senior SOC Engineer to strengthen its managed services function. This role is ideal for someone with a strong operational background in SIEM and EDR tools who can confidently lead customer onboarding, fine-tune detection strategies, and act as a senior point of contact for technical escalations. You will need to be SC clearable. Bonus points if you have SC clearance currently. You will be responsible for ensuring smooth integration of new clients into the service, optimising alerting capabilities and delivering meaningful outcomes during investigations. This is a hands-on position, working closely with internal teams and external stakeholders to maintain robust security operations across multiple environments. Prior experience in a cyber-focused MSP or MSSP Strong hands-on capability with platforms such as Microsoft Sentinel, Defender for Endpoint, or similar Proficiency in scripting and query languages such as KQL or PowerShell Knowledge of detection logic, investigation workflows, and cloud-based infrastructure Confident communicator with strong documentation and reporting skills Apply today for more information.