Broadcom in advanced talks to acquire Symantec’s enterprise business

The $10 billion deal could be announced later today.

On Thursday, sources familiar with the matter at hand stated, Broadcom Inc is in advanced talks to acquire Symantec Corp’s enterprise business.

Sources have cautioned that it is possible that a deal may be reached by the time Symantec announces its earnings. Negotiations could also last much longer, said sources.

Both companies could not be immediately reached for comments.

According to a report from the Wall Street Journbal citing sources, the deal could be worth around $10 billion.

With the news reaching the market, Symantec’s shares rose by 14% in extended trade. Shares of Broadcom fell by 1%.

Last month, Symantec walked away from negotiations to sell itself to Broadcom over price disagreements.

Symantec is facing severe erosion in top level management, with many high level executives leaving the company earlier this year. It is also being investigated by U.S. regulators over an accounting irregularity.

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