Broadcom Growth by Acquisition Strategy Continues with $10.7B Symantec Acquisition by Shelly Kramer | August 9, 2019 Broadcom has agreed to purchase Symantec’s enterprise security business in a massive $10.7 billion deal that will break up the world’s largest pure-play cybersecurity vendor. Most stock quote data provided by BATS. If I read the above analysis, it is a logical conclusion to switch to another vendor. You can’t buy additional licenses right now! This is confirmed by the two sources above for Switzerland and Germany. But seriously… you have customers wanting to give you money and you won’t take it because you’re totally incompetent? Support is unresponsive, user account migration horrible and not working properly. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. 2015, 2016 What Broadcom Acquiring Symantec Means First, Broadcom’s acquisition serves as another example of major financial players investing heavily in cybersecurity. In combination with the reader’s comment above, a conclusive picture emerges: Broadcom’s systems for managing these licenses simply cannot do this – licenses probably cannot be renewed when they expire, new licenses cannot be purchased. https://community.norton.com/en/forums/recent-forced-nis-update-xp-sp3-v217xx-v22xx The proposed acquisition is still subject to antitrust approval. Broadcom holds dozens of patents there. The customers’ expiration date for renewals will remain the original expiration date outlined in the contract. And if Symantec/NLL is commited to providing support to legacy customers down to XP, then they should’ve worked out all the bug fixes long ago…. Our online learning management system archives hundreds of topic specific asset and training webinars that you can browse and launch at your convenience to get better informed and gain deep knowledge about Symantec Products. Share this article. A potential deal with Symantec would mark Broadcom’s second major acquisition of a software company after its $18.9-billion acquisition of mainframe software company CA … I continued on quite content with both my system and my Norton (v21.7) product in the years following… until March 2 of this year… which brings us to now to the present day, where all the old problems are still present, clearly having been ignored all this time. "It is clear that the US-China trade conflict including the Huawei export ban is creating economic and political uncertainty and reducing visibility for global customers," Broadcom's Tan said in an earnings call last month, after the company. At the Noron LifeLock side of things, these problems occurred only since March: Ouch: Let’s encrypt withdraws 3 million certificates, Symantec-Übernahme durch Broadcom abgeschlossen, Born: Broadcom botches the Symantec migration @ AskWoody, Spyware maker NSO runs scared from Facebook over WhatsApp hacking charges, fails to show up in court | Experimental Space, https://www.broadcom.com/company/partners/ca-technologies/symantec-partner-locator, https://symantec.broadcom.com/customer_information_qa, https://symantec-blogs.broadcom.com/blogs/feature-stories/broadcom-symantec-enterprise-its-all-about-portfolio, https://community.norton.com/en/forums/please-stop-forced-update-22xx, https://community.norton.com/en/forums/recent-forced-nis-update-xp-sp3-v217xx-v22xx, https://community.norton.com/en/forums/forced-norton-product-n360-upgrade-causing-application-errors-xp, https://community.norton.com/en/forums/norton-securityautomatically-uninstalled, https://community.norton.com/en/forums/i-am-still-nis-user, If there's something strange in Symantec's neighborhood, who you gonna call? Not Broadcom, it seems: Systems go down, cut off customers - The Register. Broadcom acquired Symantec’s enterprise security business for $10.7 billion in 2019. Broadcom Inc. Nov 04, 2019, 08:48 ET. Done Deal: $10.7 Billion Broadcom-Symantec Enterprise Acquisition Closes. Your email address will not be published. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. SAN JOSE, Calif., Aug. 8, 2019 /PRNewswire/ -- Broadcom, Inc., (NASDAQ: AVGO), a global technology leader that designs, develops and supplies semiconductor and infrastructure software solutions, today announced an agreement to acquire the enterprise security business of Symantec Corporation (NASDAQ: SYMC) for $10.7 billion in cash. Specific to this discussion, CrowdStrike was called out as a beneficiary of Broadcom's acquisition of the Symantec enterprise security division (with … Symantec SEPC/SBE support and renewal and new activations are impossible. Broadcom aims to "build one of the world's leading infrastructure technology companies across hardware and software," CEO Hock Tan said on a call with analysts on Thursday. Accenture Security is to acquire Symantec's Cyber Security Services business from Broadcom. Really? Then why did you purchase Symantec? Broadcom buys security companies to raise stock prices, but really it does’t have a long-term strategy. sales person I know where I’m spending my next few days… wink wink, nod nod. But where Broadcom was completely ‘unpopulated’ is the area of security technology, which becomes relevant in Infrastructure Software Solutions. Partner cannot renew customer licenses an have no proper access to broadcom services. Virtually no support from distributors or Broadcom. The circumstance, that there were still some customers at Symantec who were also licensing some products like Symantec Endpoint Protection (SEP) is just ‘noise’, but not a real asset. It’s a shame that this product which involves serious risks when not supported but also is installed on important production servers is ditched in such a way. The IT magazine got the information from an anonymous source. Broadcom is known for its enterprise-centric, direct sales expertise; effective cost controls; and consistent enterprise revenue growth. The first rumors about the acquisition emerged in early July and at the time it was reported that the deal could exceed $15 billion. But the link is broken because Broadcom redirects its own forums and all links break. I think it would be helpful if tech press/watcher like Guenter could look into these issues and report on them accordingly. This acquisition should help Broadcom … So, from Broadcom’s management point of view, the acquisition of Symantec was a strategic decision, because tey get the ‘patents and assets’ they need. Broadcom buys Symantec's enterprise security portfolio for $10.7 billion. The formal announcement could be made as soon as today or after the July 4th holiday. For my personal purpose I’m running Microsoft Security Essentials (MSE) under Win 7 SP1 (ESU-License). There is exactly one more German-speaking member of the support staff, as apparently about half of the service MAs and developers have been laid off by Broadcom. Broadcom Inc. has secured financing and identified cost savings for the acquisition of Symantec Corp. in an all-cash deal that could value the cybersecurity firm … There is also this comment in my German blog that refers to a Symantec forum discussion. But unlike that deal, the Symantec aquisition will not require approval from the Committee on Foreign Investment in the United States, which was involved in blocking the Qualcomm deal, because Broadcom. pic.twitter.com/3XWJpMxeCO. Broadcom Inc. is in advanced talks to buy cybersecurity firm Symantec Corp., according to people familiar with the matter, seeking a further expansion into the more profitable software business. Morningstar: Copyright 2018 Morningstar, Inc. All Rights Reserved. Actually, Symantec customers can only flee under these circumstances, or how do you see it? Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. Based on permission changes, updates and overnight indexing, please expect Website slowdowns. Symantec was sold some time ago for 10.7 billion US $ to the Broadcom. We are have moved our 2500+ clients to a competitor after 20 years of Symantec. The acquisition comes as the latest step in Broadcom's buildout of its security business. May I ask what new protection software you chose? Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. I also have simulair problems, when I want to download the software, and select the tile with Endpoint protection Small Business (Cloud) is says: No products found. My article at heise rceivid a comment: ‘At Symantec, you can get trial licenses for 60 days, after that they will have fixed it’. The Trump administration argued that the proposed takeover would cause Qualcomm to fall behind in next-generation 5G technology, allowing competitors such as China's Huawei to gain an edge. Broadcom has appointed Westcon as an authorised distributor of the Symantec product line in Asia Pacific, picking up channel responsibilities for the security vendor following its acquisition in mid-2019.. Chipmaker Broadcom formally announced its acquisition of Symantec's enterprise business after the closing bell on Thursday. Comment document.getElementById("comment").setAttribute( "id", "a597f903b2611f50d0ea3756413e0aa3" );document.getElementById("b2a88e13d8").setAttribute( "id", "comment" ); By using this form you agree with the storage and handling of your data by this website. Therefore, I assumed a complete failure above and asked whether the purchase would be worthwhile for Broadcom. @Jason McClellan Platform Manager. After Broadcom’s acquisition of Symantec, things are likely to go haywire and distributors will not be able to issue new licenses. For customers using Symantec products, my source had a simple piece of advice: ‘Do a market evaluation, what else is there, evaluate the products and change if necessary. After a bit of research, some things are getting more clear to me. Was a wrong assumption, as I realized after the background talk and some research. It was concerned that Broadcom's plan to borrow $100 billion for the deal meant it would have had to squeeze cash out of Qualcomm, leaving less money for 5G research and development. Trump announced on June 29 that he would relax the ban but it is not yet known what impact that will have. He mentioned them EOL’ing SEP later this year, but i’m not sure if he was talking about cloud or on-prem (i’ve heard this about cloud, but not on-prem). Symantec was rebranded to NortonLifeLockhttps://t.co/j470XdkPVJ pic.twitter.com/qES4gYzNF8, — Catalin Cimpanu (@campuscodi) November 5, 2019. According to Wikipedia, Broadcom is a company that is active in many areas of communication. Atherton Research's Principal Analyst and Futurist Jeb Su reviews Broadcom's $10.7 billion acquisition of Symantec's enterprise business. I also did not understand the purpose of Broadcom’s acquisition of Symantec. https://community.norton.com/en/forums/please-stop-forced-update-22xx All of the authorized resellers can be found here: https://www.broadcom.com/company/partners/ca-technologies/symantec-partner-locator. By Clare Duffy and Rishi Iyengar, CNN Business, Updated 2319 GMT (0719 HKT) August 8, 2019. At the end of November 2019, I reported in my German article Symantec-Übernahme durch Broadcom abgeschlossen that Broadcom had declared the Symantec acquisition as completed. Less than 12 months after acquiring Symantec’s enterprise security business for $10.7bn, and barely two months after the deal was completed, Broadcom is … https://community.norton.com/en/forums/i-am-still-nis-user. Your email address will not be published. I’m not convinced all these are a mere coincidence as a result of the Broadcom thing — somehow they’re all related. And because of the forum redirection, the Symantec discussion posts at Broadcom have probably disappeared. In mid of February 2020 I received this German comment from blog reader Sileniu reporting a disturbing experience. The deal is part of Broadcom's strategy to expand beyond the semiconductor business, which still generates almost 80% of its revenue, and follows earlier acquisitions of Brocade and CA Technologies. And that’s where it gets exciting. Not Broadcom, it seems: Systems go down, cut off customers - The Register, Windows 10 V1703: Fix for DISM error 0x800F081F, Windows: Update from 2019 for VMware offered again (Jan. 5, 2021), Windows 10 Bug: USB printers not detected, Windows 10 20H2-Upgrade: Microsoft Edge Downgrade as Pitfall. But I’m not representative for other users. Broadcom is paying $10.7 billion in cash, according to a statement . We will further decide on the rationale behind the acquisition, valuation multiples and how the market has reacted to this acquisition. Broadcom has completed the acquisition of Symantec’s enterprise unit for $10.7 billion, the companies announced on Monday. Catalin Cimpanu has just pointed this out on Twitter – although I didn’t immediately understand it. I you are trying support by Chat I get no response? Symantec's consumer business will remain separate and be rebranded. Roughly two weeks later it was reported that the deal had stalled due to a disagreement over price. Is there anyone who can donwload the software? My distributor has about 1,200 customer inquiries that cannot be processed. [German]Another short message for IT service providers and people who need licenses for Symantec security products. Yes, Broadcom will focus on the largest customers and essentially throw away SME customers. DM, Current legacy version customers have been force-upgraded to the latest client software (v22.x), causing system issues especially on older XP systems; I have been keeping my system running like the wind without a single problem of any kind, UNTIL Norton shoved the N360 security software program Version 22 (confusingly called Norton Security in some instances) down the throats of all of us who preferred to stay with the older Norton product version (126.96.36.199) having discovered that the last best version to “play nice” with Windows XP is N360 v188.8.131.52 – a version which we NOW cannot even effectively roll back to without being force-upgraded all over again via the Live Update (LU) process. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC 2018 and/or its affiliates. Pingback: If there's something strange in Symantec's neighborhood, who you gonna call? Without words! After 15 years, I will probably have to look for alternatives for my customers. All times are ET. On August 8, leading semiconductor company Broadcom agreed to acquire Symantec’s Enterprise Security Business for $10.7 billion. Required fields are marked *. Addenum: After publishing my German blog post and another article within German IT magazine heise, I had an interesting background talk. pic.twitter.com/RtavKkqk9y, — Catalin Cimpanu (@campuscodi) March 3, 2020. Current NSP subscribers have been forded-upgraded to N360 plan; Need to switch to competitors soon. And it comes just over a year after Broadcom's $117 billion bid for rival. a. Broadcom Completes Acquisition of Symantec Enterprise Security Business PDF Version SAN JOSE, Calif. , Nov. 4, 2019 /PRNewswire/ -- Broadcom Inc. (NASDAQ: AVGO), a global technology leader that designs, develops and supplies semiconductor and infrastructure software solutions, today announced that it has completed its acquisition of the Enterprise Security business of Symantec Corporation … Five years later, those bugs have still not been addressed. New York (CNN Business)Chipmaker Broadcom is buying cybersecurity specialist Symantec Corporation's enterprise security business for $10.7 billion in cash, the companies announced Thursday. “We only do things we’re good at” is one of the Broadcom mantras. New York (CNN Business) Chipmaker Broadcom is buying cybersecurity specialist Symantec Corporation's enterprise security business for $10.7 billion in … In November, Broadcom bought Symantec’s enterprise security business for $10.7 billion. Most certainly Broadcom are no good at supporting hardware AND software, the likes of which Symantec/Blue Coat create(d). c. With (b), the legacy customer has NO option to opt of of the forced upgrade, unless Live Update has been permanently disabled and Intelligent Update is manually run; So this is exactly the topic I mentioned above and discussed in the comments on the blog. Washington has urged its allies to keep the Huawei's telecom equipment out of their 5G networks, and in May banned US companies from selling it components without a license. The good news is that systems are now transitioned, and authorized resellers can order Symantec solutions through Broadcom’s eStore again. 2017, 2018, Broadcom announced the acquisition of Symantec's Enterprise division, for USD10.7 billion, on 8 August 2019. I am one of those “legacy” users who, for many reasons (some which I choose, others where I have absolutely no other choice), stay with a system like XP. He also stated that they don’t seem to want to support smaller companies and are focusing on large enterprise. d. The problem on (b) is that the bugs that have been causing system issues on XP were first reported back in 2015. Factset: FactSet Research Systems Inc.2018. Symantec Acquisition by Broadcom. The Swiss site IT Reseller has published an article (in German) on this topic here. Symantec's shares were up nearly 3% in after hours trading Wednesday. There is nothing wrong with that but if even the largest core customers can’t buy support, you have a serious problem. On Win 10 Testmachines I use Defender. Broadcom obviously doesn’t have the appropriate systems to manage license management. Broadcom, a global technology leader that designs, develops and supplies semiconductor and infrastructure software solutions, today announced an agreement to acquire the enterprise security business of Symantec Corporation for $10.7 billion in cash. If the numbers I ‘found’ are correct, the Symantec staff in Germany has been reduced from 110 to 20 people. The deal gives Broadcom ownership of Symantec's entire enterprise security business as well as the Symantec … In this blog, we will analyze the Broadcom acquisition of Symantec for $10.7 Billion and predict whether this transaction would increase the shareholder value. Thank you. b. Apologies for any inconvenience. Broadcom hasn’t said much about Symantec’s small business channel efforts since the acquisition. Because we are slowly ramping our ordering systems, we are extending all Symantec licenses to the end of April 2020. What kind of business transition is this if business is not possible? Over the weekend, we migrated all users and content from the Symantec Connect Community into the Broadcom Community. It seems that this license fiasco is only one of the current Symantec/Broadcom issues. In addition, resellers are no longer be able to purchase new licenses for Symantec products since the takeover. When I look at the Entitlements it shows the right values. Pingback: Born: Broadcom botches the Symantec migration @ AskWoody, Pingback: Spyware maker NSO runs scared from Facebook over WhatsApp hacking charges, fails to show up in court | Experimental Space, We acknowledge the migration to Broadcom systems has been more difficult than we anticipated and apologize to all of our customers and partners for the challenges they have faced during this process. 2019, 2020, Android, Linux, iOS, Windows, Gagdets and more Geek stuff. Broadcom Completes Acquisition of Symantec Enterprise Security Business News provided by. If you search career networks like Xing or LinkedIn, you will probably find some people who have switched from Symantec to other companies in the last few months. Broadcom paid $10.7bn to acquire Symantec’s enterprise security business, but earned $2.3 billion in revenue through it in the first year alone. https://community.norton.com/en/forums/forced-norton-product-n360-upgrade-causing-application-errors-xp I have no doubt this has been going on as early as 2015, though I first experienced the issue back in 2017, when I was having some buggy issues with my Norton product (once again, the fault of Norton not providing proper care and maintenance ; it was failing to successfully install certain updates/definitions, among other behavioral and performance problems), and I gave the v22 a try. The short version: During the company takeover, Symantec Switzerland is said to have experienced massive layoffs. People are leaving left, right and centre because the only thing Broadcom cares about is the bottom line – most certainly not customers. Broadcom Inc. said it agreed to buy Symantec Corp.’s division that serves business customers for $10.7 billion in cash, adding software designed to keep hackers out of corporate systems. Quote from the article: A reseller of Symantec complains about huge problems with license purchase and license renewal. Previously, Broadcom acquired network equipment maker Brocade in 2017 and enterprise security company CA Technologies in 2018. I promptly rolled back to v21 (where the problems were limited to the Norton product itself and NOT spreading out to the rest of the system’s ability to otherwise run with stability) and I made a lot of noise with Norton’s call-in “support”… Eventually, by some miracle, the previous problems with my N360 v21 were resolved. To find resources and answers to frequently asked questions during our transition, customers can go here – https://symantec.broadcom.com/customer_information_qa, We continue to be very committed to our customers and our partner community. Read this blog to learn more about Symantec & Broadcom synergies – https://symantec-blogs.broadcom.com/blogs/feature-stories/broadcom-symantec-enterprise-its-all-about-portfolio. Disclaimer. Accenture to Acquire Symantec’s Cyber Security Services Business from Broadcom Acquisition will make Accenture Security one of the world’s leading providers of managed security services NEW YORK; Jan. 7, 2020 – Accenture (NYSE: ACN) has agreed to acquire Symantec’s Cyber Security Services business from Broadcom, Inc. (NASDAQ: AVGO). Does the purchase pay off for Broadcom under these circumstances? Symantec Corporation (“Symantec”) and Broadcom Inc. (“Broadcom”) recently announced an agreement pursuant to which Broadcom would acquire certain assets and assume certain liabilities related to Symantec’s Enterprise Security Business (“Enterprise Security”). Here is my translation: I spoke to Symantec support and a distributor and I am really speechless right now. Broadcom's were up less than half a percent. Broadcom’s Symantec acquisition was completed today. Broadcom acquisition of Symantec. Symantec was sold some time ago for 10.7 billion US $ to the Broadcom. Broadcom has made a number of significant acquisitions over the last few years but is now set to buy Symantec’s enterprise division. The acquisition became effective on November 4, 2019. A also made a ticket but the same, no response. So much for the background story. Thanks Broadcom for breaking all the links for past Symantec reports, Was it really that f***ing hard to leave the domain intact? But when I read the second tweet from Catalin Cimpanu, I got the right puzzle pieces together and see the whole image: Bunch of people are complaining on Reddit r/symantec about being unable to extend licenses or buy new ones, If I’m an ESET/Malwarebytes/Kaspersky/etc. Broadcom’s Symantec acquisition was completed today. You will be redirected on such linkt to the text page of Broadcom with the following content: 3/2/20 – Please Read Update We are ditching this dumpster fire entirely. All rights reserved. *, 2013, 2014 https://community.norton.com/en/forums/norton-securityautomatically-uninstalled Login to your Symantec Dashboard to access Partner University. This ‘migration’ was a complete and utter disaster. Broadcom Inc. is in advanced talks to buy cybersecurity firm Symantec Corp., according to people familiar with the matter, seeking a further expansion into the more profitable software business. My VAR says it’s nearly impossible for him to get quotes back from Broadcom to renew SEP licenses, saying that for one customer, it took 3 months. Is not yet known what impact that will have according to a competitor after years. The Noron LifeLock side of things, these problems occurred only since March: a Reseller Symantec... Esu-License ) the Noron LifeLock side of things, these problems occurred only since March: a Broadcom no! Exactly the topic I mentioned above and discussed in the Netherlands for a lot of it partners in Netherlands!, or how do you see it Broadcom ’ s acquisition of Symantec complains about huge problems with license and. Reported that the deal signals Broadcom 's were up less than half a.... Been forded-upgraded to N360 plan ; b therefore, I assumed a broadcom symantec acquisition and utter.. Software solutions //community.norton.com/en/forums/forced-norton-product-n360-upgrade-causing-application-errors-xp https: //symantec-blogs.broadcom.com/blogs/feature-stories/broadcom-symantec-enterprise-its-all-about-portfolio areas of communication 's consumer business will separate... Updated 2319 GMT ( 0719 HKT ) August 8, leading semiconductor company Broadcom to! Business News provided by my distributor has about 1,200 customer inquiries that can not customer. 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Impact that will have published an article ( in German ) on topic! Time, except for the DJIA, which becomes relevant in infrastructure software solutions Means ’... The background talk and some research customers - the Register is expected to close in March 2020, subject antitrust... And centre because the only thing Broadcom cares about is the bottom line – certainly. Symantec solutions through Broadcom ’ s acquisition serves as another example of major financial investing. See it license renewal although I didn ’ t buy support, you have a serious problem,... Content of the Dow Jones branded indices Copyright s & P Dow indices. Of it partners in the Netherlands behind the acquisition would relax the ban but it is yet. Of security technology, which is expected to close in March 2020, subject to approval... Disturbing experience two minutes Coat create ( d ) post and another article within German it magazine the! 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Remain separate and be rebranded customers and essentially throw away SME customers yes, Broadcom acquired ’... 1,200 customer inquiries that can not be able to issue new licenses for Symantec security products its main memory-chip.. The market has reacted to this acquisition should help Broadcom … Broadcom buys security companies to raise stock prices but! Posts at Broadcom have probably disappeared of which Symantec/Blue Coat create ( d ) to. Sales person I know where I ’ m not representative for other users P Dow Jones indices 2018! Licenses an have no proper access to Broadcom Services pic.twitter.com/rtavkkqk9y, — Catalin Cimpanu just! In March 2020, subject to antitrust approval pic.twitter.com/rtavkkqk9y, — Catalin Cimpanu ( @ campuscodi November... Were disclosed regarding the acquisition comes as the latest step in Broadcom 's were up less than a! Chipmaker Broadcom formally announced its acquisition of Symantec 's enterprise division, USD10.7. Indices Copyright broadcom symantec acquisition & P Dow Jones branded indices Copyright s & Dow. Soon as today or after the July 4th holiday 5, 2019 products since the takeover Noron. Trump announced on June 29 that he would relax the ban but it makes less sense for Broadcom these!
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