Global software company to acquire SAS, say insiders
Summary
Industry analysts say that this is in line with Broadcom’s enterprise software businesses– especially its products from acquired companies CA Technologies and Symantec. Largely built through acquisitions, Broadcom has reportedly been on the hunt for more deals ever since President Donald Trump blocked its pursuit in 2018 to buy rival company Qualcomm Inc., stating security risks. The company competes with the likes of IBM, Microsoft, Oracle, SAP, Tableau and Tibco, and has customers in 147 countries spread across several industries, including banking, healthcare, retail and manufacturing. Additionally, Broadcom’s stock reportedly rose one percent as news of the potential acquisition broke. According to industry insiders, Broadcom is increasingly investing in enterprise software offerings as it looks to appeal to more business customers and compete with the likes of Microsoft.
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