Mergers and Acquisitions, Mergers and Acquisitions, Content, Networking

Broadcom Sells Symantec MSSP, Keeps Symantec Enterprise Software

Broadcom is selling Symantec's MSSP business -- known as the Cyber Security Services division -- and six security operations centers (SOCs) to Accenture, MSSP Alert reports.

This is M&A Deal Number 9 that MSSP Alert and ChannelE2E have covered in 2020. See the complete M&A deal list here.

The deal essentially allows Broadcom to shed services-focused cybersecurity efforts, while retaining Symantec's core enterprise security software offerings. Meanwhile, Accenture has been extremely active on the M&A front, acquiring cybersecurity, cloud and digital transformation consulting firms and service providers. Here's a list of Accenture's acquisitions.

Broadcom's Cybersecurity Software Focus

No doubt, Broadcom continues to invest in Symantec's cybersecurity software portfolio. Recent evidence includes acquiring Bay Dynamics, a cyber risk analytics and UEBA (User and Entity Behavior Analytics) specialist. Bay Dynamics has partnered and integrated with Symantec's DLP (data loss prevention) since July 2017.

Broadcom acquired the Symantec enterprise business for $10.7 billion in 2019. Meanwhile, rumors persist that the former Symantec consumer business, now known as NortonLifeLock, may also be acquired.

Joe Panettieri

Joe Panettieri is co-founder & editorial director of MSSP Alert and ChannelE2E, the two leading news & analysis sites for managed service providers in the cybersecurity market.