Broadcom is close to buying Symantec's enterprise business

Key Points
  • The deal, expected to be announced after the market's close Thursday, could value Symantec's enterprise division at around $10 billion, sources told CNBC's David Faber.
  • Chipmaker Broadcom sees at least $1 billion in synergies, according to sources.
  • The two companies ceased deal negotiations in July as Symantec would not accept less than $28 a share.
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Broadcom nears deal to buy Symantec's enterprise business

Broadcom is close to a deal to buy cybersecurity firm Symantec's enterprise business after negotiations to acquire the whole company fell apart last month, sources tell CNBC's David Faber.

The deal, expected to be announced after market's close Thursday, could value Symantec's enterprise division at around $10 billion, sources said. Chipmaker Broadcom sees at least $1 billion in synergies, according to sources.

The two companies ceased deal negotiations in July as Symantec would not accept less than $28 a share, Faber previously reported. The Wall Street Journal first reported the new deal.

Broadcom bought CA Technologies for $19 billion last year and tried to purchase Qualcomm before the U.S. Department of Justice blocked the deal.