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AVGO - Broadcom Reportedly Ready For Another Enterprise Software Acquisition
Broadcom Inc.
Investors are still split on the merits of Broadcom’s (AVGO) 2018 acquisition of CA, but Broadcom management apparently isn’t letting those concerns get in the way of their strategic plans. To that end, Bloomberg is reporting that Broadcom is in advanced discussions to acquire Symantec (SYMC) at an enterprise value of over $15 billion.
The key attraction of Symantec would be similar to that of CA – high operating margins and theoretically consistent free cash flows, boosted by Broadcom’s aggressive cost-reduction efforts. That argument makes sense to a point, but