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Broadcom-Symantec Enterprise Deal: How It Came To Be, What Will Happen Now

Here's a deep dive into why Broadcom plans to buy Symantec’s enterprise security business for $10.7 billion and how Broadcom plans to improve the profitability and go-to-market strategy of the underperforming business.

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10. Deal Is Broadcom's Fourth Massive Acquisition In Four Years

Broadcom's parent company has increased its revenue ten-fold and boosted margins by 70 percent over the past several years through a series of enormous acquisitions. The deal-making began in February 2016, when the company (then known as Avago) bought semiconductor manufacturer Broadcom for $37 million and took the name of the acquired asset.

Since then, Broadcom has aggressively diversified its business, purchasing data center networking provider Brocade for $5.9 billion in December 2017 and IT software giant CA Technologies for $18.9 billion in November 2018. As a result of the four deals (including Symantec), Broadcom's revenue will jump from $2.5 billion to $24.6 billion, while EBITDA margins will grow from 33 percent to 56 percent.

The deal with Symantec comes 17 months after Broadcom dropped its $117 billion bid to buy rival chipmaker Qualcomm, which was scuttled after President Donald Trump blocked the acquisition due to national security concerns. Since then, Broadcom has officially relocated its headquarters from Singapore to California's Silicon Valley.

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