Broadcom may acquire security software company Symantec

According to Reuters, Broadcom plans to acquire security software company Symantec in order to further improve the profitability of the company's software business.

People familiar with the matter said Broadcom may reach an acquisition agreement in the next few weeks, but because there are still many unknowns, Broadcom has not yet made the acquisition public and confirmed.

If the acquisition is completed, it will be Broadcom's second major investment in the software field after its $18 billion acquisition of CA Technologies last year.

It is understood that Symantec is the world's largest cybersecurity software company, but in the past year, the company is facing huge challenges due to a series of problems such as the resignation of its CEO, weakening consumer demand for security software, and the company's acceptance of financial investigations.

Regarding its continuous acquisitions of software companies in recent years, Broadcom stated that its best acquisition strategy at present is to continuously acquire companies that have a leading position in sustainable markets and continuously invest in them as part of Broadcom, rather than integrating their products.

However, some investors are not optimistic about this acquisition because it is far from Broadcom's current business content.

Broadcom and Symantec have not yet commented on this.