Broadcom Inc. said that it agreed to buy Symantec Corp.'s division that serves business customers for $10.7 billion in cash, adding software designed to keep hackers out of corporate systems. The deal, which is expected to close in Broadcom's fiscal first quarter ending in January, comes less than a month after the two companies' discussions for a full merger fell apart over disagreements about the price. The transaction announced Thursday will refocus Symantec on its consumer-facing products, such as the LifeLock identity-protection brand and Norton antivirus software. The acquisition marks Broadcom's second big bet in software, after its $19 billion takeover of CA Technologies last year. Chief Executive Officer Hock Tan is spreading the reach of the company he built through acquisitions in the chip industry, and is now using a similar playbook to extract value from software assets that are struggling to grow. Symantec said the sale is expected to generate $8.2 billion after taxes, … [Read more...] about Broadcom to buy Symantec division
(Reuters) - Cybersecurity company Symantec Corp (SYMC.O) has walked away from negotiations to sell itself to chipmaker Broadcom Inc (AVGO.O) over price disagreements, people familiar with the matter said on Monday. FILE PHOTO: A sign to the campus offices of chip maker Broadcom Ltd is shown in Irvine, California, U.S., November 6, 2017. REUTERS/Mike Blake/File Photo Symantec’s decision raises new questions over the future of the U.S. antivirus software provider, which is looking for a new CEO and has been struggling to grow its business serving companies. It could not be determined why the price negotiations broke down. Broadcom was last week willing to offer as much as $28.25 per share in cash for Symantec and was hoping to ink a deal on Monday, one of the sources said. CNBC, which first reported the news on Monday, said Symantec was looking for more than $28 per share. It is possible that talks between the two sides resume, the sources said. However, Symantec has a … [Read more...] about Symantec ends talks to sell to Broadcom over price: sources
Broadcom has set its sights on acquiring a well-known name in cybersecurity software, in a further strategy shift after President Donald Trump's administration blocked it last year from purchasing another chipmaker on national-security grounds. The semiconductor giant is in advanced discussions to buy Symantec, which makes anti-virus software and other products, two people briefed on the matter said Wednesday. Any deal would most likely value Symantec at more than $15 billion, they said. A transaction could be announced in the coming days, though the people warned that negotiations were still taking place and could fall apart. A Symantec spokesman declined to comment, while a Broadcom representative did not immediately return a request for comment. The talks were earlier reported by Bloomberg News. If an agreement is reached, it will underline how much Broadcom has had to change its acquisition strategy after the defeat of its $117 billion bid last year to buy Qualcomm, the world's … [Read more...] about Broadcom in bid to buy Symantec, sources say
The story of Symantec’s recent transformation starts with a strategic aspiration: to position the company as a major disruptor in its chosen sector of cybersecurity. Over the span of five years, the company went through two major divestitures, selling Veritas to a private equity group in 2016, and Website Security to DigiCert in 2017. The company also made two large acquisitions, Blue Coat in 2016 and LifeLock in 2017, followed by three smaller ones. Symantec then initiated two intensive rounds of restructuring that included reducing head count, which laid the groundwork for a subsequent wave of growth. In doing all this, the company reoriented its purpose. It went from selling enterprise software to providing the world’s leading cybersecurity platforms for both consumers and global enterprises, and shifted business models from product orientation to subscription-based. The company also went through a deeply felt cultural change, including a new emphasis on diversity at the … [Read more...] about Inside Symantec’s Tech Transformation
Let's be honest, passwords are a pain. We all know that good ones protect us from hackers, but it's a real challenge to create and remember strong passwords for all our online accounts. To deal with "password fatigue," we create a few simple passwords, use them on multiple accounts and hope nothing bad happens. "We all want what's simple and easy, but that's not good with passwords," said Morgan Slain, CEO of SplashData, an online security company specializing in password protection. "Using a simple password over and over again is dangerous because it creates a cascading risk for all of your online accounts." SplashData evaluates millions of leaked passwords each year to create its annual list of worst passwords. The latest report reveals the same predictable, easy-to-guess passwords that are simple to crack top the 2018 List of Worst 100 Passwords: 123456 Password 123456789 12345678 12345 Other lousy passwords include: 1111, admin, 123123, iloveyou, welcome and 123abc. SpashData … [Read more...] about These are the worst passwords of 2018. Is yours on the list?