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.

Free Daily Newsletter

Interesting read? Subscribe to FierceElectronics!

The electronics industry remains in flux as constant innovation fuels market trends. FierceElectronics subscribers rely on our suite of newsletters as their must-read source for the latest news, developments and predictions impacting their world. Sign up today to get electronics news and updates delivered to your inbox and read on the go.

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"

Read more on

Suggested Articles

Contracts require six EU manufacturers to buy from Broadcom exclusively, EU says

STPay-Topaz SoC is made with 40nm Flash

Allegro DVT has acquired Amphion Semiconductor to strengthen its offerings in video codecs.