Broadcom Inc. The transaction, which is expected to close in the first quarter of Broadcom's fiscal year 20201, is subject to regulatory approvals in the U.S., EU and Japan and other customary closing conditions. These forward-looking statements are based on current expectations and beliefs of Broadcom's management, as well as assumptions made by, and information currently available to, Broadcom's management, current market trends and market conditions and involve risks and uncertainties, many of which are outside of Broadcom's and Broadcom's management's control, and which may cause actual results to differ materially from those contained in forward-looking statements. Broadcom Inc., (NASDAQ: AVGO), a Delaware corporation headquartered in San Jose, CA, is a global technology leader that designs, develops and supplies a broad range of semiconductor and infrastructure software solutions. SAN JOSE, Calif., Aug. 8, 2019 /PRNewswire/ -- Broadcom, Inc., (NASDAQ: AVGO), a global technology leader that designs, develops and supplies semiconductor and infrastructure software solutions, today announced an agreement to acquire the enterprise security business of Symantec Corporation (NASDAQ: SYMC) for $10.7 billion in cash. Broadcom is … Symantec Enterprise; Events. Broadcom to Acquire Symantec Enterprise Security Business for $10.7 Billion in Cash August 8, 2019 Expands Broadcom's Infrastructure Software Footprint with Best-in-Class Suite of Integrated Enterprise Security Solutions Accelerates Broadcom's Efforts to Build One of the World's Leading Infrastructure Technology Companies Symantec's enterprise security business is recognized as an established leader in the growing enterprise security space and has developed some of the world's most powerful defense solutions that protect against today's evolving threat landscape and secure data from endpoint to cloud. Cautionary Note Regarding Forward-Looking Statements Broadcom Completes Acquisition of Symantec Enterprise Security Business News provided by. Beatrice F. Russotto Financial terms were … All rights reserved. These non-GAAP measures are provided in addition to, and not as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. Source: Press release, "Symantec Announces Sale of Enterprise Security Assets for $10.7 Billion to Broadcom" Accessed 26 August 2019. This was more than offset by our … 212-355-4449. Accordingly, you should not place undue reliance on such statements. BROADCOM TO ACQUIRE SYMANTEC ENTERPRISE SECURITY BUSINESS FOR $10.7 BILLION IN CASH Building one of the world’s leading infrastructure technology companies Cautionary Statement Regarding Forward-Looking Statements Forward-looking statements speak only as of the date of this communication. Strategic partnerships to expand reach and deliver superior customer experienceSAN JOSE, Calif., Dec. 09, 2020 (GLOBE NEWSWIRE) -- Broadcom Inc. … Copyright © 2005 - 2021 Broadcom. Symantec's first acquisition was C&E Software on January 1, 1984, and the founder of C&E Software, Gordon Eubanks, became the new chief executive officer of Symantec. Symantec Corp. is no longer Symantec, as the company changed its name following the completion today of Broadcom Inc.’s acquisition of its enterprise security … http://www.prnewswire.com/news-releases/broadcom-to-acquire-symantec-enterprise-security-business-for-10-7-billion-in-cash-300899102.html. As of today, partners are no longer authorized to sell two popular Symantec products, Symantec Endpoint Protection Cloud and Symantec Endpoint Protection Small Business Edition. Management does not believe that these items are reflective of the Company's underlying performance. The formal announcement could be made as soon as today or after the July 4th holiday. A webcast of the conference call will also be available in the "Investors" section of Broadcom's website at https://investors.broadcom.com. He brings more than 20 years of experience in the security software industry. This announcement contains forward-looking statements (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended) relating to Broadcom. SAN JOSE, Calif., Nov. 4, 2019 /PRNewswire/ -- Broadcom Inc. (NASDAQ: AVGO), a global technology leader that designs, develops and supplies semiconductor and infrastructure software solutions, today announced that it has completed its acquisition of the Enterprise Security business of Symantec Corporation (NASDAQ: SYMC). The exclusion of these and other similar items from Broadcom's non-GAAP financial results should not be interpreted as implying that these items are non-recurring, infrequent or unusual. In addition to GAAP reporting, Broadcom provides investors with net income, operating income, gross margin, operating expenses and other data, and has previously provided net revenue data, on a non-GAAP basis. The financial results provided below do not include any contribution from the Symantec Enterprise Security business. Media reports say that Broadcom AVGO is acquiring security software maker Symantec SYMC for $15 billion. Financial terms were not disclosed. Check the user rights in your domain security policies manually. The term "Broadcom" refers to Broadcom Inc. and/or its subsidiaries. The transaction is expected to drive more than $2 billion of sustainable, incremental, run-rate revenues and approximately $1.3 billion of Pro Forma EBITDA, including synergies. This non-GAAP information includes the effect, where applicable, of purchase accounting on revenue, and excludes amortization of acquisition-related intangible assets, stock-based compensation expense, restructuring, impairment and disposal charges, acquisition-related costs, including integration costs, purchase accounting effect on inventory, litigation settlements, debt-related costs, gain (loss) on extinguishment of debt, gain (loss) on dispositions of acquisition-related assets, income (loss) from discontinued operations and non-GAAP tax reconciling adjustments. Broadcom expects its current dividend policy of delivering 50% of its prior fiscal year free cash flow to shareholders to remain unchanged. Broadcom has obtained $23 billion in financing ahead of a potential acquisition of Symantec. Broadcom pushes partners, customers to replace existing licenses, while competitors try to displace accounts. Our solutions include data center networking and storage, enterprise, mainframe and cyber security software focused on automation, monitoring and security, smartphone components, telecoms and factory automation. SAN … Beatrice F. Russotto "Today represents an important milestone as Symantec's Enterprise Security business joins our other semiconductor and software franchises that together form the Broadcom platform," said Hock Tan, President and Chief Executive Officer of Broadcom. View original content:http://www.prnewswire.com/news-releases/broadcom-to-acquire-symantec-enterprise-security-business-for-10-7-billion-in-cash-300899102.html, Broadcom to Acquire Symantec Enterprise Security Business for $10.7 Billion in Cash. Passcode is 7958018. http://www.prnewswire.com/news-releases/broadcom-completes-acquisition-of-symantec-enterprise-security-business-300950721.html. A recent … This release contains forward-looking statements (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended) concerning Broadcom. Broadcom’s acquisition of Symantec has been completed, and with that, the latter brand is set to disappear for good. On January 7, 2020, Accenture plc had agreed to acquire Symantec's 300-person cybersecurity services division from Broadcom. Reaffirms Fiscal Year 2019 Revenue Guidance. Particular uncertainties that could materially affect future results include risks associated with: our Symantec Corporation ("Symantec") transaction, including (1) potential difficulties in employee retention, (2) unexpected costs, charges or expenses, and (3) our ability to successfully integrate the Symantec enterprise business and achieve the anticipated benefits of the transaction; any loss of our significant customers and fluctuations in the timing and volume of significant customer demand; our dependence on contract manufacturing and outsourced supply chain; global economic conditions and concerns; any acquisitions we may make, such as delays, challenges and expenses associated with receiving governmental and regulatory approvals and satisfying other closing conditions, and with integrating acquired companies with our existing businesses and our ability to achieve the benefits, growth prospects and synergies expected by such acquisitions, including our recently completed transaction with Symantec; government regulations and trade restrictions; our ability to accurately estimate customers' demand and adjust our manufacturing and supply chain accordingly; our significant indebtedness, including the additional significant indebtedness that we have incurred in connection with the Symantec transaction and the need to generate sufficient cash flows to service and repay such debt; dependence on and risks associated with distributors of our products; dependence on senior management and our ability to attract and retain qualified personnel; international political and economic conditions; involvement in legal and administrative proceedings; our dependency on a limited number of suppliers; quarterly and annual fluctuations in operating results; cyclicality in the semiconductor industry or in our target markets; our competitive performance and ability to continue achieving design wins with our customers, as well as the timing of any design wins; prolonged disruptions of our or our contract manufacturers' manufacturing facilities or other significant operations; our ability to improve our manufacturing efficiency and quality; our dependence on outsourced service providers for certain key business services and their ability to execute to our requirements; our ability to maintain or improve gross margin; our ability to protect our intellectual property and the unpredictability of any associated litigation expenses; compatibility of our software products with operating environments, platforms or third-party products; our ability to enter into satisfactory software license agreements; sales to our government clients; availability of third party software used in our products; use of open source code sources in our products; any expenses or reputational damage associated with resolving customer product warranty and indemnification claims; our ability to sell to new types of customers and to keep pace with technological advances; market acceptance of the end products into which our products are designed; our ability to protect against a breach of security systems; changes in accounting standards; fluctuations in foreign exchange rates; the amount and frequency of our stock repurchases; our provisions for income taxes and overall cash tax costs, legislation that may impact our overall cash tax costs and our ability to maintain tax concessions in certain jurisdictions; and other events and trends on a national, regional and global scale, including those of a political, economic, business, competitive and regulatory nature. 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