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Broadcom Strikes $10.7B Cash Deal for Symantec’s Enterprise Security Assets; Rick Hill Quoted

Broadcom (Nasdaq: AVGO) has agreed to acquire Symantec's (Nasdaq: SYMC) enterprise security assets for approximately $10.7B in cash. The transaction includes the acquisition of the Symantec name and is expected to conclude before the end of calendar year 2019, subject to regulatory approvals and other customary closing conditions, Symantec said Thursday.

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Richard Hill Named Symantec Interim President, CEO; Vincent Pilette Appointed EVP, CFO

Richard Hill, a board member at Symantec (Nasdaq: SYMC) since January, has been named interim president and CEO of the Mountain View, Calif.-based cybersecurity company. He replaces Greg Clark, who stepped down after three years at the helm, as the company begins its search for a full-time CEO, Symantec said …

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Symantec’s Chris Townsend: Agencies Should Advance Cyber Tech Interoperability Through Standardization

Chris Townsend, vice president of federal business at Symantec (Nasdaq: SYMC), has said agencies should work with industry to standardize cyber tools used to secure networks, endpoints and data in order to facilitate information sharing with other platforms. “Reducing complexity through standardization can enhance protection at every level and support …

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Vishal Gupta Named Unisys CTO, Technology SVP; Peter Altabef Comments

Vishal Gupta, senior vice president for engineering at Symantec (Nasdaq: SYMC), will serve as chief technology officer and SVP for technology at Unisys (NYSE: UIS) starting Aug. 31. He will directly report to Unisys CEO Peter Altabef and succeed Tarek El-Sadany, who will leave by the end of August to …

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Fortinet, Symantec Vet Andrew Del Matto Named Citrix CFO

Andrew “Drew” Del Matto, formerly chief financial officer at Fortinet (Nasdaq: FTNT), will join Citrix Systems (Nasdaq: CTXS) as executive vice president and CFO in a move that takes effect Feb. 19. Del Matto will directly report to David Henshall, Citrix president and CEO, and oversee the software firm’s capital and …

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Former Symantec Exec Greg Hughes Named Veritas CEO

Greg Hughes, former CEO of Serena Software, has been selected by the board of directors to succeed Bill Coleman as CEO of Veritas Technologies, effective immediately. Coleman will continue to serve on the company’s board and join investment firm The Carlyle Group (Nasdaq: CG) as operating executive, Veritas said Monday. …

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Symantec’s Chris Townsend: Cyber Investments Should be Aligned With Critical Data Protection

Chris Townsend, vice president of federal business at Symantec (Nasdaq: SYMC), has said government agencies should ensure that investments in cybersecurity infrastructure are aligned with efforts to protect critical data from cyber threats. Townsend wrote that agencies should establish a platform that works to offer a standardized approach to data …

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Steve Bennett, Symantec Announce Dividend Program for Shareholders

Symantec Corp. (Nasdaq: SYMC) has announced an enhanced capital allocation strategy that is expected to return approximately 50% of free cash flow to shareholders over time, according to a company statement. “A dividend program is a sign of the confidence we have in our just announced strategy and operational plan …

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Symantec Sees Positives in Financial Report

Symantec (NASDAQ: SYMC) reported results of its fourth quarter and the fiscal year 2011, ended April 1, 2011. According to the firm, “GAAP revenue for the fiscal fourth quarter was $1.67 billion, up 9 percent year-over-year and up 8 percent after adjusting for currency. For the fiscal year, GAAP revenue …

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