Broadcom: buys Symantec's security business

(CercleFinance.com) - On Thursday evening, Broadcom announced an agreement to acquire Symantec's enterprise security business for 10.
7 billion dollars in cash, which it expects to finalise in the first quarter of fiscal year 2020.

The electronics supplier estimates that this transaction will generate over 2 billion dollars in additional sustainable revenues, and about 1.3 billion dollars in pro-forma EBITDA, including synergies.

While it plans to leave its dividend policy unchanged, Broadcom now expects to use excess cash flow beyond its dividend payments to quickly reduce its debt, instead of buying back shares.


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