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Symantec spikes 15% after reportedly being approached by Thoma Bravo about acquisition

Key Points
  • Private equity firm Thoma Bravo has approached Symantec to express interest in acquiring the U.S. cybersecurity software company, people familiar with the matter said on Tuesday.
  • There is no certainty that the discussions between Thoma Bravo and Symantec will lead to a deal, the sources said, asking not to be identified because the matter is confidential.
Symantec headquarters in Mountain View, Calif.
Tony Avelar | Bloomberg | Getty Images

Private equity firm Thoma Bravo has approached Symantec to express interest in acquiring the U.S. cybersecurity software company, people familiar with the matter said on Tuesday.

Shares of Symantec soared 15 percent in mid-morning trading Tuesday. 

There is no certainty that the discussions between Thoma Bravo and Symantec will lead to a deal, the sources said, asking not to be identified because the matter is confidential.

Symantec and Thoma Bravo did not immediately respond to requests for comment.

Symantec reached a settlement with activist hedge fund Starboard Value in September that gave it three representatives on the company's board. Private equity firms Bain Capital and Silver Lake are also investors in Symantec.

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