Broadcom Chief Executive Officer Tan Hock Eng is spreading the reach of the company he built through acquisitions in the chip industry, and is now using a similar playbook to extract value from software assets that are struggling to grow.
SAN FRANCISCO: Broadcom Inc. said it agreed to buy Symantec Corp.’s division that serves business customers for US$10.7 billion in cash, adding software designed to keep hackers out of corporate systems.
The deal, which is expected to close in Broadcom’s fiscal first quarter ending in January, comes less than a month after the two companies’ discussions for a full merger fell apart over disagreements about the price.
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