Broadcom Purchases Symantec: Plan for Uncertainty

12/08/2019 12:00:52
The network security world is small, yet vital – and 2019 has shaken it up with Broadcom’s purchase of Symantec (ranked 5th globally). Purchased for $10.7 billion, Symantec’s stock rose by 12% following the announcement of the purchase, a much needed yet modest boost for the declining company in an ascending vertical.

Broadcom promised vague changes, with “$1 billion in operating expense reduction, affecting sales, marketing, and G&A” and a “Focus on selling to the largest Global 2000 customers, leveraging an enterprise licensing model.”

So, who is Broadcom and what impact will this purchase have on the cyber-security industry?  Broadcom is largely a Semiconductor company with a long and prosperous history producing fiber optic transmitters and receivers, optical mouse sensors, traveling wave amplifiers, Ethernet products and more recently, purchasing companies like CyOptics Inc., PLX Technology Inc., Emulex Corp. and CA Technologies, Inc.

They plan to reduce expenses – thus affecting every department, and they plan to sell more – to larger companies. Not so specific. Their failed purchase of chipmaker, Qualcomm, in 2018, might have triggered this foray into the world of network security, not necessarily their creation of new, ground-breaking products, research or passion for the field – but we are just guessing.  Maybe cyber security and cloud computing have been a passion all along…

Dipping a toe in the cyber-security pool doesn’t necessarily make you Michael Phelps. While Symantec was a trusted name with quality products, their slow decline triggered the Broadcom purchase – and the sharks are circling.

Still not sure who Broadcom is and how the changes to Symantec will affect you?

Considering moving away from Symantec? Join the club.

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