Broadcom could buy Tibco or Symantec

Mergers and acquisitions deals consolidation
Seeking software, Broadcom is looking at both Tibco and Symantec purchases, sources say. (Getty/Kritchanut)

Broadcom is considering buying Tibco, which makes infrastructure software, but the deal wouldn’t go through if Broadcom buys Symantec, according to sources.

CNBC reported the Tibco purchase possibility on Friday relying on unnamed sources who are familiar with the insight.

Broadcom wanted to buy chipmaker Qualcomm last year, but was blocked by the Trump administration. Then CEO Hock Tan focused on software companies and purchased CA for $19 billion.

Sponsored by Infosys

Infosys positioned as a Leader in Gartner Magic Quadrant for IT Services for Communications Service Providers, Worldwide 2020

The Gartner Magic Quadrant evaluated 12 vendors and Infosys was recognized for its completeness of vision and ability to execute.
Infosys leverages its global partner ecosystem, CSP-dedicated studio, design tools, and 5G Living Labs to boost service delivery. Innovative solutions such as the ‘Infosys Cortex2’ are driving business value for CSPs.

Vista Equity Partners purchased Tibco for $4.3 billion in 2014, and was reported by Bloomberg to be considering a sale of Tibco in 2018.   

CNBC said Tan is determined to make a large acquisition this year, so different groups of Broadcom advisors are working on deals for both Symantec and Tibco at the same time.

Broadcom has been hurt by the trade uncertainty surrounding Huawei, and cut its forecast for semiconductor sales by $2 billion in June. Chip sales had already been down for Broadcom, so diversifying to software has made the most sense. CA’s infrastructure software is responsible for about 25% of total Broadcom revenues. Symantec or Tibco would potentially increase that amount.

RELATED: "Chip sales decline globally for fifth month"


Suggested Articles

Legendary Samsung Chairman Lee Kun-hee died earlier this week after six years of illness

Lab inside ST fab in Singapore will bring together scientists from A * STAR Institute of Microelectronics and Japan’s ULVAC

The rush to test ventilators was “like sprinting down a pier while also building the pier”