Monday, February 6, 2023

Will Microsoft Acquire Symantec?

Intel’s planned acquisition of security vendor McAfee sparked widespread speculation that other security players are also potential acquisition targets. Now, a new report from a leading stock analyst is adding more grist to the rumor mill, causing a small run-up in McAfee competitor Symantec’s stock price and a new round of reports that Symantec’s most likely suitor is none other than longtime Intel partner Microsoft.

On Wednesday, several investor publications, including Barron’s Tech Trader Daily and TheStreet led with the rumor that Microsoft (NASDAQ: MSFT) may be courting Symantec (NASDAQ: SYMC), citing investor boards across the Internet.

For many rumormongers, a research note issued by Jefferies & Company analyst Katherine Egbert lent even more credence to a likely takeover of Symantec.

“We doubt a near-term sale is on tap, but we do sense some shareholder angst with the current state of Symantec,” Egbert wrote in her note.

Read the rest at eSecurity Planet.

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