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Enterprise

Broadcom-Symantec Acquisition Talks Fizzle Over Price

Broadcom’s bid to enter the cybersecurity software business has hit a snag, as Symantec has ended acquisition talks with the chip maker over a disagreement about pricing, Reuters reported. The situation underscores Symantec’s lack of leverage amid declining sales of its cybersecurity software to large companies and the departure of several top executives in the past year, including the abrupt resignation of CEO Greg Clark in May. 

This also suggests that while Broadcom is interested in diversifying into software, it isn’t willing to overpay to get there. Symantec is still the world’s largest cybersecurity company by revenue, but its uncertain direction at the moment would have to be a major consideration for any potential acquirer. 

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