Broadcom CEO Hock Tan announces the repatriation of his company headquarters to the United States from Singapore as U.S. President Donald Trump looks on during a ceremony in the Oval Office of the White House on November 2, 2017 in Washington, DC.
After the Trump administration blocked Broadcom’s effort to buy chipmaker Qualcomm last year, CEO Hock Tan turned his attention to software — chasing aging companies that public markets had largely forgotten.
First it was CA Technologies, which Broadcom agreed to acquire a year ago for $19 billion, snapping up a 42-year-old developer of software used by information technology teams.
Now, the company is in talks to acquire 37-year-old security software vendor Symantec, a company that’s been plagued by deteriorating financials and a revolving door in the C-suite. Bloomberg reported on Tuesday that the companies were in advanced talks, and CNBC confirmed with sources familiar with the matter that discussions had been underway.