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Broadcom Inc. is in talks to buy SAS Institute Inc., according to people familiar with the matter, as part of the acquisition technology giant’s latest move to strengthen itself in enterprise software.
A deal, which would cost SAS a private company in the range of $ 15 billion to $ 20 billion, could be finalized in the coming weeks assuming the talks don’t collapse, people said. This number is called enterprise value, some people have said, which typically includes assumed debt and is adjusted for cash on the target’s balance sheet.
Broadcom has a market value of nearly $ 200 billion after its shares rose about 50% in the past year.
Broadcom, a semiconductor powerhouse built largely through acquisitions, has been chasing more deals since former President Trump blocked his quest to buy rival Qualcomm Inc. in 2018, citing risks of security. Broadcom has since moved its headquarters from Singapore to the United States.
Broadcom chief executive Hock Tan focused on diversifying beyond the company’s core chip business and entering the lucrative software arena. In 2018, he struck a roughly $ 19 billion deal to buy software company CA Technologies, formerly Computer Associates. The following year, Broadcom agreed to buy the business operations of Symantec Corp. for about $ 10.7 billion.
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