Symantec shares soar on report that Broadcom is in talks to acquire the security software maker

[InfoSec News <alerts () infosecnews org>]

https://www.cnbc.com/2019/07/02/symantec-shares-soar-on-report-that-broadcom-in-talks-to-acquire-it.html

By Ari Levy
CNBC.com
July 2, 2019

Symantec shares surged more than 20% in extended trading on Tuesday after 
Bloomberg reported that Broadcom is in advanced talks to acquire the 
security software vendor.

Symantec has been plagued in recent years by management turmoil and a 
flailing core business as cloud security companies have taken share of the 
enterprise market and a newer crop of companies have emerged to protect 
mobile devices.

Greg Clark was the most recent CEO departure in May. Clark said he wanted 
to spend more time with his aging father, but departed after the company 
missed revenue estimates for the fourth quarter. Symantec director Richard 
Hill, formerly CEO of Novellus Systems, was named interim president and 
CEO, effective immediately, according to a statement at the time.

Clark became CEO in 2016, replacing Michael Brown.

[...]



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