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Broadcom eyes Symantec’s enterprise business

The chipmaker Broadcom has entered negotiations to acquire Symantec’s enterprise business, according to two reports.

The Wall Street Journal and Reuters have reported that the two companies are in advanced talks after earlier negotiations collapsed in June.

The deal is estimated to be worth around $10bn and would represent just the latest software acquisition for Broadcom, which acquired CA Technologies for nearly $19bn just over a year ago.

It is not yet clear when the deal will close, but Reuters reported that it could happen as soon as Thursday, when Symantec is due to announce its earnings.

Symantec’s former chief executive Greg Clark stepped down in May as the company issued a profit warning. The company’s chief marketing and operation officers have also left in the last 12 months.

Symantec and Broadcom have been reached for comment.