Symantec shares jumped almost 14% over trading on July 3rd following reports that it could potentially be acquired by Broadcom for $15 billion. The security software company saw its share price cross $25 for the first time since last May. Per Trefis, Symantec’s shares have a fair value of $21
Symantec makes money selling cyber-security products, solutions and services to corporates and retail customers. There are two sources of Symantec’s revenue : Revenues are derived from the sale of the company’s products offering threat- and information-protection across cloud and on-premise applications to corporate and government customers.
The deal could provide a much-needed shot in the arm for security software company Symantec, which has seen its fortunes decline considerably in the recent pastThe Enterprise Security business was also under pressure in Q1 due to technical issues in the company’s cloud product and a loss of business from small and medium enterprises
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