San FRANCISCO: Broadcom Inc said it agreed to buy Symantec Corp’s division that serves business customers for US$10.7bil 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. The transaction announced Thursday will refocus Symantec on its consumer-facing products, such as the LifeLock identity-protection brand and Norton antivirus software.