Broadcom Inc. · NASDAQ:AVGO
Broadcom — Merger or Acquisition (August 2019)
18 slides from Broadcom's merger presentation, Aug 9, 2019
Slide 1: Broadcom to Acquire Symantec Enterprise Security Business
Broadcom to Acquire Symantec Enterprise Security Business August 8, 2019 Exhibit 99.2
Slide 2: Important Information: Cautionary Statement Regarding Forward-Looking Statements
Important Information Cautionary Statement Regarding Forward-Looking Statements This announcement contains forward-looking statements (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of
Slide 3: Call Participants
Call Participants Hock Tan Broadcom President & Chief Executive Officer Tom Krause Broadcom Chief Financial Officer Art Gilliland Symantec Executive Vice President and General Manager, Enterprise Security
Slide 4: Continued Execution of Broadcom's Strategic Vision
Continued Execution of Broadcom’s Strategic Vision Furthers our efforts to build one of the world’s leading infrastructure technology companies Next logical step in Broadcom’s strategy following the Brocade and CA acquisitions Adds $161Bn enterprise security market to Broadcom’s addressable market(1
Slide 5: Builds on Broadcom's History of Innovation
Builds on Broadcom’s History of Innovation 2005 1999 1961 IPO 2007 2018 2017 2014 1981 2002 1996 1960 2009 2016 1976 1991 1995 2019 1982 Semiconductors Infrastructure Software Enterprise Security
Slide 6: Creating One of the World's Leading Infrastructure Technology Companies
Creating One of the World’s Leading Infrastructure Technology Companies Notes: Second chart reflects % of non-GAAP revenue which includes licensing revenue not included in GAAP revenue as a result of purchase price accounting for acquisitions. Other Non-GAAP data excludes, where applicable, stock-ba
Slide 7: Business at a Glance
Symantec Enterprise Security Business at a Glance Endpoint Web Proxy / Bluecoat Data Loss Prevention Products Leadership Position #1 Enterprise Security Software Platform with Three Key Franchises Revenue(1) / Market Growth >$450MM Stable / Growing >$550MM Stable >$700MM Stable Key Customers(1) Glob
Slide 8: $1+ Billion Synergy Opportunity to Drive ~$1.3 Billion in Pro Forma EBITDA
$1+ Billion Synergy Opportunity to Drive ~$1.3 Billion in Pro Forma EBITDA Eliminating G&A redundancies by migrating to Broadcom platform Focusing R&D & Support efforts on highest ROI opportunities Endpoint Security Web Security DLP Integrating and rationalizing salesforce (Projected) Symantec Enter
Slide 9: Established Leader in Enterprise Security
Established Leader in Enterprise Security Sources: Gartner Magic Quadrants (May 2019, November 2018, October 2018, January 2018, February 2017) Third Party Estimates Leader: Managed Security Services for 15 Years Running Leader: Secure Web Gateway for 11 Years Running Leader: Endpoint Security for 1
Slide 10: Leader in Endpoint Protection
Leader in Endpoint Protection… Source: Gartner Endpoint Protection Magic Quadrant Report, January 2018 Solutions Available Across Wide Variety of Endpoint Platforms Seamless Scalability Cloud Based Endpoint Protection Platform Advanced AI Analytic Capability Stable and Efficient Resource Usage Combi
Slide 11: Web Security Services
…Web Security Services… Source: Gartner Secure Web Gateways Magic Quadrant Report, November 2018 Symantec Enterprise Security and Zscaler are Leaders in Secure Web Gateways… …However, Symantec Enterprise Security is Differentiated in its Integrated Approach Cloud-Based Security Enforcement SSL Traff
Slide 12: Data Loss Prevention
…Data Loss Prevention… Source: Gartner Enterprise Data Loss Prevention Magic Quadrant Report, February 2017 Symantec Enterprise Security Created the Data Loss Prevention Market… …and Has Continued to Innovate to be an Industry Leader for Over a Decade Centralized Management Console Advanced Policy D
Slide 13: Cloud Security is a Leader in the Emerging Cloud Security Market
…And Cloud Security Symantec Enterprise Security is a Leader in the Emerging Cloud Security Market… …and is Differentiated with its Integrated Approach Web Application Firewall Secure Web Gateway Mobile Integration Advanced Data Analytic Capability Adaptive Access Controls With Step Up Authenticatio
Slide 14: Creates Even More Comprehensive Platform in Enterprise Security
Creates Even More Comprehensive Platform in Enterprise Security Advanced Services Information Protection Threat Protection Identity Management Compliance Enforcement Third-Party Applications Platform Foundations Open Ecosystem Threat Intelligence AI & Machine Learning APIs & ICD Exchange Automation
Slide 15: Transaction Overview
Transaction Overview $2+ billion of sustainable, incremental run-rate revenues after executing our optimization strategy ~$1.3 billion of pro forma EBITDA including cost synergies after revenue optimization strategy $1+ billion of expected run-rate cost synergies within 12 months, primarily from sal
Slide 16: Business Meets Our Acquisition Criteria
Symantec Enterprise Security Business Meets Our Acquisition Criteria Large Enterprise Customer Base 86% of the Fortune 500(2) Long Operating History and Strong IP Portfolio ~1,700 Patents(4) Financially Compelling Opportunity $2+ Bn Sustainable Revenue with ~$1.3 Bn of Pro Forma EBITDA(5) Establishe
Slide 17: Broadcom Continues to Outperform as it Diversifies its Portfolio
Broadcom Continues to Outperform as it Diversifies its Portfolio Notes: 1. Total Shareholder Return defined as stock price return plus impact of dividends 2. Market data as of 8/7/2019 3. Indexed from one day prior to Brocade acquisition announcement date of 11/2/2016 Source: Capital IQ 73% 51% 36%
Slide 18: Continued Execution of Broadcom's Strategic Vision
Continued Execution of Broadcom’s Strategic Vision Furthers our efforts to build one of the world’s leading infrastructure technology companies Next logical step in Broadcom’s strategy following the Brocade and CA acquisitions Adds $161Bn enterprise security market to Broadcom’s addressable market(1