![]() ![]() "Think about that for a moment, $10.7 billion in cash for approximately 10% of our operating income," pointed Rick Hill, Symantec's interim CEO, in a call with Wall Street analysts on Thursday.įor chipmaker Broadcom, the acquisition of the Mountain View, California-based company's enterprise business unit as well as its brand -Symantec's consumer business will be rebranded Norton Lifelock -is the logical next step in its infrastructure software strategy, following the acquisitions of Brocade -maker of data center and enterprise storage networking equipment -and mainframe software company CA, adding the $160 billion cybersecurity market to Broadcom's addressable market. Symantec's enterprise security software and cloud products, which include endpoint protection, data loss prevention, web, network, and email security, as well as cloud application security, generated approximately 50% of the 37 year old company's revenue, at $2.5 billion, but only 10% of its operating income in the first quarter of fiscal 2020 that ended ended July 5, 2019. ![]()
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