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The Ratings Game: Symantec is another ‘decaying software asset’ for Broadcom to add to CA, analysts say

Symantec Corp. shares rallied Wednesday following reports that Broadcom Ltd. was in late stage talks to acquire the cybersecurity software company, and analysts drew parallels to the chip maker’s acquisition of another struggling software firm.

Broadcom AVGO, -3.54% is reportedly looking to wrap up a deal for Symantec SYMC, +13.57% in the next few weeks. The news comes nearly a year after Broadcom’s intentions to acquire IT software management company CA Inc. for $18 billion came to light and had analysts scratching their heads, handing Broadcom’s stock its worst day ever.

A year later, Broadcom’s most recent software play is being met with less resistance given its success with CA, with analysts looking at how Broadcom’s management could improve Symantec’s struggling metrics.

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