Company Expects to Issue a $12 per Share Special Dividend to Symantec Shareholders After Close of Transaction
Symantec Corp., the world’s leading cyber security company, announced it has entered into a definitive agreement to sell its Enterprise Security assets, which include the Symantec name, to Broadcom Inc., for $10.7 billion in cash. The transaction, which was approved by Symantec’s Board of Directors, is expected to close before the end of the calendar year pending regulatory approvals.
“Symantec has a long history of offering unparalleled cyber technology,” said Daniel H. Schulman, Chairman of the Symantec Board of Directors. “It is a testament to our market leadership and dedication to the mission of making the world a safer place, that Broadcom has chosen Symantec’s Enterprise Security assets to expand their reach into cyber security. By unlocking value from Enterprise Security, we are significantly advancing our ongoing transformation strategy and positioning our consumer cyber safety business, Norton LifeLock, for success.”
Read More: Crypto Currency-To-USD Lending Management Startup Raises $18.3 Million
“This is a transformative transaction that should maximize immediate value to our shareholders while maintaining ownership in a pure play consumer cyber safety business with predictability, growth and strong consistent profitability. In addition it allows the Enterprise Security business to grow and compete on an enterprise platform with a worldwide sales and distribution reach which can service our existing customers,” said Rick Hill, Interim President and CEO. He added, “It also allows our Norton LifeLock business, a world recognized leader in consumer and small business cyber safety to operate independently and give investors a clear understanding of the growth opportunity and strong financial performance.”
Announcement Highlights:
- Sale of Enterprise Security assets delivers $10.7 billion before tax
- The Company expects to issue a special dividend of $12.00 per share for shareholders
- The Board of Directors approved an increase of $1.1 billion to our remaining share repurchase authorization, while maintaining our current debt levels; the total authorization is now $1.6 billion
- The Company expects to increase the regular quarterly dividend to $0.125 per share after the close of the transaction, funded solely by Consumer Cyber Safety’s on-going business and with the potential to increase future dividends, after the transition period and once stranded costs are eliminated
- The Consumer Cyber Safety business is steady, predictable and we believe can grow at mid-single digits, generating strong cash flow and earnings
- This sale leaves behind underutilized assets that were not part of the transaction, including owned properties that will be monetized to cover a large portion of the estimated $1 billion cash cost to shed the estimated $1.5 billion in stranded costs. We would have been monetizing these assets as part of our overall strategy, but now we can do it while not subjecting our shareholders to the execution risk of such a major undertaking
- This agreement is a major win for both parties’ customers and shareholders
Read More: Salesforce Completes Acquisition of Tableau
Upon closing of the transaction, Symantec expects to receive $10.7 billion, which is estimated to yield approximately $8.2 billion of after tax proceeds. Symantec expects to return approximately 100% of its after-tax cash proceeds in the form of a $12.00 per share special dividend to shareholders after the close of the transaction. We expect to pay the special dividend in the fourth quarter of fiscal year 2020 and will update the expected dividend timing on our next quarterly earnings call. In addition, we expect to increase our regular dividend by 67% to $0.125 per share in the quarter following the close. The Board of Directors has approved an increase to our existing share repurchase authorization up to $1.6 billion. After the transition, we believe our Norton LifeLock business can generate $1.50 annual non-GAAP earnings per share and achieve mid-single digit revenue growth year over year.
Prior to closing we will continue to manage the Enterprise Security business to best serve our customers, while partnering with Broadcom to plan for a smooth transition. At close, Broadcom will assume the Enterprise Security assets, including the Symantec name as part of their broad infrastructure software portfolio. In addition, at the close, we will continue to operate our industry leading and worldwide recognized Consumer Cyber Safety business which provides Device Security, Identity Threat Protection and Privacy software that protects consumers and small businesses from the ever increasing threats posed by cyber criminals around the globe.
Read More: Google’s Cloud AI Partners and How They Solve Big Problems
“With a large and growing market, Norton LifeLock products address consumers’ increasing need for cyber safety,” continued Mr. Hill. “In the first quarter of fiscal year 2020, our Consumer Cyber Safety segment contributed 90% of Symantec’s total company operating income. It is our view that with an operating model focused on increased marketing investments and product development for consumer privacy, we can simultaneously grow our subscriber base and increase our annual revenue per user. We expect this asset divestiture will enable our Norton LifeLock business to grow revenue in the mid-single digits, with continued strong cash flow from operations and expanded earnings growth. It has been my honor to work with employees from every area of the Company. I can honestly say there are no more capable and driven people than these executives, managers, and employees. As we work toward closing this transaction with Broadcom, we remain committed to protecting our customers and continuing to focus on operational excellence.”
“This $10.7 billion agreement to sell our Enterprise Security assets to Broadcom delivers significant value to Symantec shareholders,” said Vincent Pilette, Executive Vice President and CFO. “In addition, we have identified approximately $1.5 billion of annual run rate expenses which we plan to eliminate over the next 12 months at a cash cost of approximately $1 billion. We believe these cash costs will be materially offset by the sale of underutilized assets such as real estate. We are focused on disciplined execution, developing a cost structure that allows us to fuel growth and continue innovation in our consumer business.”
Read More: AI Technology RADAR: Shaking the IT Foundations with AIOps- Part 1
The Board of Directors is conducting a search for a permanent CEO for the consumer business. The Board has engaged with a leading executive search firm and is considering both internal and external candidates.
The transaction is subject to regulatory approvals and other closing conditions.
Goldman Sachs & Co. LLC is serving as financial advisor, and Fenwick & West LLP is serving as legal advisor, to Symantec.
İki nörolog Ogi Ogas ve Sai Gaddam’ın internet üzerinden yaptığı araştırma internetin “porno”dan meydana gelmediğinin altını çiziyor.
Arkadaşlar türkçe dublaj eski siyah beyaz
filimleri netten nasıl izleyebilirim? googleye ne yazsam çıkar eski siyah beyaz yabancı filimler
örneğin bi.
BDSM Sohbet; Hentai & Oyunlar; Herkese Açık Seks; Pornbaker; Anal
Derin boğaz Gangbang Hatefuck Ahegao kusmak kolza-Joi Ballbusting İşemek ağlayan BDSM Lavman Çift penetrasyon Zorunlu Aşağılama Ağr Memeler işkence Aşırı Porno Videoları.
en yeni En iyi En çok görüntülenen uzun.
Gerçek Para Depozito Bonusu Yok Tüm haberler En son online c***** haberlerine göz atın. Posted on (0) Comment;
c***** çevrimiçi gerçek para paypal normal iddaa bülteninde yer alan tüm maçlara.
Online casinoları oynamak istiyorsanız, hatta
daha fazlasına oynama imkanınız bulunmaktadır.
part-time work for hospital-based pharmacists
making passive income as a doctor low maintenance
passive income ideas for doctors
simple passive income ideas for retired doctors and seniors
Buy affordable Actoplus online without a prescription for diabetes Glyburide mail
order
Best online pharmacy for diabetes medication Buy
Actoplus without prescription
Hi to every one, the contents present at this web page are truly awesome for people
knowledge, well, keep up the good work fellows.
It’s very straightforward to find out any topic on net as compared to textbooks, as I
found this post at this web site.
Hello! Do you know if they make any plugins to help with SEO?
I’m trying to get my blog to rank for some targeted keywords but I’m not seeing very
good success. If you know of any please share.
Kudos!
Hey! This is kind of off topic but I need some help from an established
blog. Is it difficult to set up your own blog?
I’m not very techincal but I can figure things out pretty quick.
I’m thinking about setting up my own but I’m not sure where to begin. Do you have any points or suggestions?
Cheers
Hi there to every one, the contents present at this web site are in fact awesome for people experience, well, keep up the
good work fellows.
Sweet blog! I found it while surfing around on Yahoo
News. Do you have any suggestions on how to get
listed in Yahoo News? I’ve been trying for a while but I never seem to get there!
Thank you
Write more, thats all I have to say. Literally, it seems as though you relied
on the video to make your point. You obviously know what youre talking about, why waste your intelligence on just posting
videos to your weblog when you could be giving us something informative to read?
When I originally commented I clicked the “Notify me when new comments are added” checkbox and
now each time a comment is added I get three emails with the
same comment. Is there any way you can remove people from that service?
Appreciate it!
Hey there would you mind letting me know which hosting company you’re using?
I’ve loaded your blog in 3 completely different internet browsers
and I must say this blog loads a lot quicker then most.
Can you recommend a good web hosting provider at a reasonable price?
Thanks, I appreciate it!
Copper scrap collection procedures Copper recycling technologies Salvage metal recycling
Copper cable extraction, Metal scrap reclamation yard, Copper scrap industry networking
Ahaa, its pleasant discussion on the topic of this article here at this web site, I have read all that, so now me also commenting at this place.
Precious metal market dynamics Ferrous waste reclamation and reuse Iron waste reutilization center
Ferrous material warehouse management, Iron scrap trade, Metal waste recycling yard
Excellent web site. Lots of useful info here. I am sending it to several buddies ans also sharing in delicious.
And naturally, thank you in your sweat!
благословение небожителей 3 том казахстан, благословение небожителей 4 том работа
тараз в больнице, работа для медсестер менің болашақ кәсібім эссе, менің болашақ мамандағым шығарма kazakhstan presidential palace,
ak orda presidential palace
dos the number, tin number checker ән махаббат назы скачать, baygun – махаббат назы скачать гост р 12.4 026 2001, цвета сигнальные, знаки
безопасности и разметка сигнальная төлем қабілеттілік және өтімділік көрсеткіштері, ұйымның қаржылық жағдайын талдау әдістері
иргиз аральск расстояние, аральск кызылорда расстояние nokian nordman sz,
nokian летняя резина чем отличается католический крест от протестантского, основные направления протестантизма келді міне
жаңа жыл бота бейсенова скачать, жаңа жыл келді қайта скачать
менің мектебім менің мақтанышым тақпақ, білім туралы
тақпақ присяга казахстана
на казахском, присяга госслужащего рк текст правка атланта астана, правка атланта караганда зарплата старшего лейтенанта в казахстане, зарплата
подполковника в казахстане
When someone writes an post he/she keeps the image of a user in his/her mind
that how a user can be aware of it. Therefore that’s why this article is great.
Thanks!
Medikamente ohne Rezept in der Schweiz erhältlich Marcan Zaanstad Kauf von Medikamente online
ohne Rezept in München, Deutschland
I truly love your site.. Very nice colors &
theme. Did you make this website yourself?
Please reply back as I’m looking to create my own personal site
and want to find out where you got this from or what the theme
is called. Thank you!
баламалы энергия болашақтың энергиясы
мақала жк 5 элемент астана адрес, купить квартиру в клубном доме астана доставка еды
алматы круглосуточно, доставка еды алматы наличными долмабахче что посмотреть,
что посмотреть в стамбуле за 3 дня
боровое – кокшетау, электричка кокшетау
боровое мажилис состоит из,
мажилис рк ал сен оригиналсын – скачать на звонок, ал сен оригиналсын минус
скачать обмен валют в караганде, курс евро в караганде народный банк
алтын-эмель самостоятельное путешествие, алтын-эмель интересные факты жк водно-зеленый бульвар астана отзывы, водно зеленый
бульвар астана год постройки экономикалық география
салалары, әлеуметтік география салалары приказ 44 мз рк адилет,
44 приказ казакша
құс пенде бірдей бөтен жырақта қасиетін,
құс туралы мақала дельфин
туралы ағылшынша мәлімет, дельфин
салмағы балық мақал, балыкшыга тилек айгүл елшібаева сүгірдің термесі скачать, қыздархан еркінқызы
сүгір ай скачать
rybelsus price https://rybelsus.tech/# buy semaglutide online
good price
заработать в интернете новичок без вложений фриланс по учебе оператор
эвм кем может работать авито подработка в краснодаре для студентов
buy rybelsus online usa: buy rybelsus online usa – buy rybelsus rybpharm
best ed pill ere pharm: best ed pills online – best ed pill ere pharm
erepharm.com: best ed pills online – best ed pill ere pharm
fur pharm [url=https://furpharm.com/#]furpharm[/url] furosemide furpharm.com
Online medicine home delivery: Indian online pharmacy ship to usa – top online pharmacy india
https://canadiandrugsgate.com/# best ed medication
reputable mexican pharmacies online: mexican pharmacy – medication from mexico pharmacy
http://canadiandrugsgate.com/# buy prescription drugs without doctor
reputable indian pharmacies: indian pharmacy easy – top 10 online pharmacy in india
http://mexicanpharmgate.com/# buying prescription drugs in mexico online
mexican pharmaceuticals online: mexico pharmacy – п»їbest mexican online pharmacies
https://indianpharmacyeasy.com/# top online pharmacy india
https://canadiandrugsgate.com/# how to fix ed
world pharmacy india [url=http://indianpharmacyeasy.com/#]Indian pharmacy to USA[/url] reputable indian pharmacies
https://mexicanpharmgate.com/# mexico drug stores pharmacies
errectile dysfunction: canadiandrugsgate – best ed pills online
india pharmacy mail order: indian pharmacy – indian pharmacies safe
best male enhancement pills: canadian drugs gate – pain meds without written prescription
amoxicillin generic https://clomidrexpharm.com/# where to buy generic clomid prices
amoxicillin 500 mg without a prescription [url=http://amoxilcompharm.com/#]com pharm[/url] buy amoxicillin 500mg canada
prednisone 10 tablet: prednisone – prednisone 40 mg price
medicijnen online bestellen: eenvoudig en betrouwbaar ratiopharm
Antibes Commander médicaments avec livraison rapide
can you buy amoxicillin over the counter: Amoxicillin buy online – generic amoxil 500 mg
how to get clomid pills: rexpharm – where to buy clomid pill
cost of amoxicillin 875 mg: Amoxicillin Com Pharm – amoxicillin 500 mg without a prescription
334 бұйрық, 171 бұйрық кбо олимпиада расшифровка, кбо олимпиада 2022 химия масса гранд старекс что с приложением яндекс, яндекс
оператор
cheap priligy: dapoxetine online – buy priligy max pharm
amoxicillin over the counter in canada: Amoxicillin for sale – amoxicillin pills 500 mg
prednisone 5093: order Prednisone – 2.5 mg prednisone daily
buy cytotec pills online cheap [url=http://cytpremium.com/#]cyt premium[/url] Abortion pills online
http://cytpremium.com/# Misoprostol 200 mg buy online
amoxicillin 500 mg online: amoxil com pharm – where to buy amoxicillin over the counter
how can i get clomid tablets: clomid rex pharm – buy clomid without rx
dapoxetine price: priligy maxpharm – dapoxetine price
plavix medication [url=https://plavixclo.com/#]antiplatelet drug[/url] Cost of Plavix on Medicare
buy priligy max pharm: max pharm – priligy maxpharm
https://iverfast.com/# ivermectin 2ml
buy Lisinopril online [url=https://lisinopril1st.com/#]lisinopril1st[/url] buy Lisinopril online
пинап казино: pinup – пин ап вход
пин ап вход: pinup-kazi.ru – pinup-kazi.ru
пин ап казино официальный сайт: пин ап зеркало – pinup-kazi.ru
вавада онлайн казино: вавада казино – вавада казино
пин ап казино [url=http://pinup-kazi.ru/#]пин ап казино официальный сайт[/url] пин ап казино официальный сайт
vavada-kazi.ru: вавада казино онлайн – вавада казино зеркало
https://vavada-kazi.ru/# vavada-kazi.ru
вавада казино зеркало: вавада казино онлайн – vavada
пинап казино: pinup-kazi.kz – pinup kazi
http://pinup-kazi.kz/# pinup kazi
вавада [url=http://vavada-kazi.ru/#]вавада казино[/url] вавада казино
пин ап казино: пин ап казино официальный сайт – пинап казино
пин ап казино онлайн: pinup-kazi.kz – пин ап кз
pharmacies in mexico that ship to usa: mexicanpharmeasy.com – mexican drugstore online
buying prescription drugs in mexico [url=http://mexicanpharmeasy.com/#]Pharm Easy[/url] reputable mexican pharmacies online
pharmacies in mexico that ship to usa: Mexican Pharm – purple pharmacy mexico price list
herbal remedies for ed https://indianpharmstar.com/# indian pharmacy paypal
male dysfunction pills: canada pharmacy online – best otc ed pills
buy ed pills online http://canadianpharm1st.com/# natural ed pills
pet antibiotics without vet prescription: canada pharmacy online – male erection pills
medication from mexico pharmacy: MexicanPharmEasy – mexico drug stores pharmacies
how to cure ed https://mexicanpharmeasy.com/# buying from online mexican pharmacy
dog antibiotics without vet prescription: canadian pharmacy – buy prescription drugs
medication online: canadian pharm – cialis without a doctor’s prescription
buy online pharmacy http://canadianpharm1st.com/# buy prescription drugs without doctor
top rated ed pills [url=https://canadianpharm1st.com/#]canadian pharm 1st[/url] online ed pills
anti fungal pills without prescription: canadianpharm1st.com – male erection
mexican rx online: MexicanPharmEasy – reputable mexican pharmacies online
Ivermectin Pharm: Ivermectin Pharm – ivermectin 20 mg
https://ivermectinpharm.store/# Ivermectin Pharm Store
AmoxilPharm [url=http://amoxilpharm.store/#]AmoxilPharm[/url] where to buy amoxicillin 500mg without prescription
http://amoxilpharm.store/# amoxicillin where to get
Amoxil Pharm Store [url=https://amoxilpharm.store/#]AmoxilPharm[/url] AmoxilPharm
rybelsus: buy semaglutide online – rybelsus cost
Ivermectin Pharm Store: Ivermectin Pharm – Ivermectin Pharm Store
paxlovid pharmacy: Paxlovid.ink – paxlovid india
Gabapentin Pharm: Gabapentin Pharm – Gabapentin Pharm
875 mg amoxicillin cost [url=https://amoxilpharm.store/#]amoxicillin 250 mg[/url] AmoxilPharm
https://ivermectinpharm.store/# stromectol 12mg
neurontin prescription medication: neurontin 300mg caps – neurontin cost uk
http://paxlovid.ink/# paxlovid buy
Paxlovid buy online [url=https://paxlovid.ink/#]buy paxlovid online[/url] paxlovid pharmacy
AmoxilPharm: Amoxil Pharm Store – rexall pharmacy amoxicillin 500mg
Ivermectin Pharm Store: Ivermectin Pharm – Ivermectin Pharm Store
https://amoxilpharm.store/# AmoxilPharm
can i buy clomid without prescription: can you get generic clomid without insurance – how to get generic clomid no prescription
cipro ciprofloxacin [url=https://ciprofloxacin.cheap/#]cipro 500mg best prices[/url] buy cipro without rx
https://clomid.store/# can you buy generic clomid pills
http://azithromycinus.com/# azithromycin zithromax
buy cytotec in usa [url=http://cytotec.top/#]order cytotec online[/url] Abortion pills online
https://lisinoprilus.com/# lisinopril brand name uk
buy prinivil online [url=https://lisinoprilus.com/#]b********* for lisinopril 20 mg[/url] lisinopril sale
https://azithromycinus.com/# zithromax 500 tablet
cheap clomid tablets: can you get cheap clomid without insurance – where buy generic clomid
ciprofloxacin 500 mg tablet price [url=https://ciprofloxacin.cheap/#]ciprofloxacin 500mg buy online[/url] cipro 500mg best prices
order cytotec online: buy cytotec online fast delivery – buy cytotec over the counter
http://cytotec.top/# purchase cytotec
where buy cheap clomid without insurance [url=https://clomid.store/#]where can i get cheap clomid without a prescription[/url] cost of generic clomid without prescription
buy misoprostol over the counter: purchase cytotec – buy cytotec online
where to buy clomid: where to buy generic clomid now – can i get clomid pills
https://clomid.store/# where to get cheap clomid price
Misoprostol 200 mg buy online [url=https://cytotec.top/#]cytotec pills buy online[/url] cytotec abortion pill
https://azithromycinus.com/# zithromax capsules 250mg
cost for 20 mg lisinopril [url=https://lisinoprilus.com/#]prescription drug prices lisinopril[/url] zestril tablet price
cipro: buy cipro online without prescription – ciprofloxacin
clomid tablets: can you get clomid no prescription – cost clomid without insurance
over the counter lisinopril [url=http://lisinoprilus.com/#]lisinopril 2.5 mg for sale[/url] lisinopril average cost
buy cipro without rx: ciprofloxacin 500mg buy online – buy ciprofloxacin
https://azithromycinus.com/# generic zithromax azithromycin
lisinopril 18 mg [url=http://lisinoprilus.com/#]lisinopril 2.15 mg[/url] lisinopril 10 mg canada cost
can you get clomid for sale: how to get cheap clomid price – where to buy generic clomid online
buy cipro without rx [url=https://ciprofloxacin.cheap/#]where to buy cipro online[/url] buy cipro
https://semaglutidetablets.store/# rybelsus semaglutide tablets
http://cenforce.icu/# order cenforce
drugs1st: best ed medication – male enhancement pills
https://drugs1st.pro/# cat antibiotics without pet prescription
semaglutide tablets for w**********: generic rybelsus tabs – semaglutide tablets for w**********
buy Kamagra: sildenafil oral jelly 100mg kamagra – buy Kamagra
http://kamagra.men/# cheap kamagra
levante c***** [url=https://casinositeleri2025.pro/#]bahis siteleri deneme bonusu[/url] kayД±t bonusu veren c***** siteleri
can i buy cheap clomid for sale: where to buy generic clomid without prescription – get generic clomid
http://clomidonpharm.com/# can you buy generic clomid without a prescription
http://amoxstar.com/# amoxicillin 500mg capsules price
prednisone for cheap: Predni Best – prednisone medication
https://amoxstar.com/# amoxicillin 500 capsule
can you get clomid price: clomid on pharm – how can i get clomid without insurance
http://amoxstar.com/# where can i get amoxicillin
amoxicillin over the counter in canada: Amox Star – amoxicillin 500mg price canada
http://amoxstar.com/# amoxicillin without prescription
generic amoxicillin cost [url=http://amoxstar.com/#]how much is amoxicillin[/url] amoxicillin cost australia
https://prednibest.com/# prednisone 10 mg canada
buy cipro no rx [url=http://cipharmdelivery.com/#]ci pharm delivery[/url] ciprofloxacin
prednisone 54: prednisone canada prescription – buy prednisone 40 mg
http://amoxstar.com/# amoxicillin 500 tablet