Symantec receives interest from buyout firms Permira, Advent: WSJ


FILE PHOTO: The Symantec booth is seen during the 2016 Black Hat cyber-security conference in Las Vegas, Nevada, U.S. August 3, 2016. REUTERS/David Becker/File Photo

(Reuters) – Symantec Corp has received interest from private equity firms Permira and Advent International Corp seeking to buy the cyber security company for more than $16 billion after it agreed to a sale of a big chunk of its business, the Wall Street Journal reported on Friday.

Permira and Advent recently approached Symantec proposing a takeover deal valuing Symantec at $26 to $27 a share that would hand them the company’s consumer operation while preserving the sale of its enterprise business to Broadcom Inc, the report said, citing people familiar with the matter. (


Shares of the company were up about 7%. Up to Thursday’s close, Symantec had a market capitalization of $14.51 billion.

Symantec, Permira and Advent did not immediately respond to Reuters’ requests for comment.


Reporting by Arjun Panchadar in Bengaluru; Editing by Maju Samuel


Articles You May Like

California governor says broad power shutdown to prevent fires ‘unacceptable’
Pope mistakenly Tweets support for U.S. ‘Saints’ football team
NBA scraps media access to teams in China, Saturday’s game on
U.S. Senator Rubio calls for review of TikTok’s merger with
Depression, anxiety may cause patients to leave cardiac rehab

Leave a Reply

Your email address will not be published. Required fields are marked *