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Broadcom officially acquires Symantec’s enterprise unit for $10.7bn

Steve Murphy

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Broadcom

On Thursday, renowned chipmaker Broadcom officially announced about it acquiring Symantec’s enterprise security unit for the sum of $10.7bn. The deal between the two companies splits Symantec into two portions effectively, with Broadcom having complete ownership over Symantec’s enterprise security business as well as its brand name.

Symantec would continue to hold ownership of its customer-facing product unit, which includes Norton anti-virus software as well as LifeLock identity-theft protection brand.

Broadcom stock price increased 1 percent in after-hours trading, following the deal announcement. On the other hand, Symantec stocks were halted just after the market closure, but they increased around 5 percent when they recommenced trading post hours.

Broadcom said that it expects to earn over $1bn in terms of run-rate cost synergies in a year after the deal closes during its first 2020 fiscal quarter. The chipmaker said that it shall own as well as utilize the brand name Broadcom after the closure of the deal.

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In a statement, Symantec said it expects the deal to close before this year’s end. After the closure of the deal, the cyber-security specialist plans on returning the deal proceeds in the form of $12/share special dividend. Symantec also plans on increasing its dividend to 12.5 cents/share post the deal closure.

Notably, speculations related to a Broadcom-Symantec deal surfaced during early July, thus moving Symantec share price upward. Just weeks later, David Faber of CNBC Group reported that deal talks between the companies had ended, which resulted in Symantec shares moving downwards.

Broadcom has continually been on acquisition quest for years. It previously tried to acquire Qualcomm for over $1bn but ultimately failed as President of the US Donald Trump interfered and stopped the deal. After that, Broadcom cracked a deal worth nearly $19bn with software firm CA, which has helped it tremendously to expand its business.

Steve Murphy has handled various businesses throughout his career and has a deep domain knowledge. He founded Report Door in an attempt to bring the latest news to its readers. He is glued to the stock market most of the times and just loves being in touch with the developments in the business world.

Business

Is Chick-fil-A’s popularity at stake?

Steve Murphy

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Chick-fil-A

As per the reports, a newly released Drive-Thru performance study from QSR Magazine discloses the restaurants with the slowest and fastest average drive-thru times. As per the study customers usually, spend about an average of about 255 seconds or say 4.25 minutes while waiting in drive-thru lines between the speaker and the order window.

At Chick-fil-A, as per the study customers tends to wait for about 323 seconds or say 5.4 minutes. The report further says that the main cause behind this isn’t the poor service, but the demand. QSR Magazine is said to accurately measure a drive-thru wait using a mystery shopping and market research company in order to collect the data.

As per QSR’s methodology, each order was standardized to the main item, side item and drink, along with a minor special request, such as no ice, etc.

It’s said that the average wait time, he period between giving an order and receiving the food grew by more than a minute this summer from the previous one, as per the industry publication QSR, that is said to partner with a third party to test drive-thru service annually.

Chick-Fil-A has upped their level of the fast-food game by posting their team members outside, to take orders and payment from customers on their iPads while they wait. Breitbart News also reported that the fast-food chain had doubled its overall sales in recent years, despite protests against the restaurant because of its support for traditional marriage and Christian values.

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These Cannabis Vape Cartridges causes Deadly Lung Cancer- Sources Revealed

Steve Murphy

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causes Deadly Lung Cancer

Cannabis Vape Cartridges sold with the label “Dank” is predominantly causing deadly lung cancer.  The name “Dank” is used for the highly potent cannabis widely known vaping cartridge in the marijuana economy. The ongoing federal investigation revealed the mysterious deadly lung illness caused due to the inhalation of this brand.

An image was released by the Minnesota Department of Public Safety on Sept 23, 2019. The image shows   75,000 THC vaping cartridges packaging “Dank” in Anoka County, MN. The illicit producers use the name of “Dank” on a box to lure customers easily.

The actual culprit has not found yet: INVESTIGATORS said

According to Investigators, so far the actual culprit has not been identified which reported illness in dozens of states.  However, according to officials patients mentioned the Dank name frequently to report about the illness. Like many people sick in Illinois and Wisconsin used cartridges sold in Dank packaging.

This is what the Associated Press has revealed about illegal vaping cartridges:

Wisconsin authorities revealed that an illegal vaping cartridge produces thousands of cartridges loaded with THC oil every day in two years. Even in the last two months, Minnesota authorities have seized nearly 77,000 THC  vaping cartridges. From all these seized cartridges some were packed in Dank boxes.

Similarly, in November 2018, some other authorities of Lorain County revealed about 4 packages. Those packages were mailed from California holding wrapped and sealed packages of Dank Cartridges.

According to a report of federal centers for Disease Control and Prevention, Dank vapes are among the class of largely counterfeit brands.  The brand is available with common packaging that is easily available online.  The drug is used by the distributors to market THC- containing cartridges with no obvious centralized production or distribution.

The symptoms of inhalation injury include shortness of breath, fatigue, chest pain, diarrhea, and vomiting.

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Coca-Cola will soon bring its first-ever energy beverage to the US in 2020

Steve Murphy

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Coca Cola Energy beverage

Coca-Cola is entering into the energy beverage market, posing a competition to giants like Monster and Red Bull.

On Tuesday, Coco-Cola made an announcement that it’ll be launching an energy drink for the first time to the US next year. The upcoming drink will be marketed under the Coca-Cola Energy brand and will be coming in cherry and original varieties and zero-sugar options for each.

The beverage had already debuted previously this year across 25 international countries, mainly throughout Europe. But this is the first time that it will be launching in the US.

However, the cherry variants were newly formulated for the US launch.

Coming to the ‘energy’ factor, these 4 varieties of Coca-Cola energy drinks contain 114mg of caffeine in each can. This is more than the 34mgs of caffeine that a Coke can contain.

As per Janki Gambhir from Coca-Cola, research showed that consumers needed an energy beverage that tastes similar to Coke rather than a regular energy drink. This is the reason why the firm took the decision of entering the energy drink segment, Gambhir added.

The firm saw the potential to meet an un-catered demand in the energy drink category, said Gambhir.

Coca-Cola remains a major Monster Energy drink distribution partner and a minority owner as well. The announcement of the launch of the energy drink came in after arbitration between the two firms. Coca-Cola and Monster Energy were in a dispute which had resulted in the violation of the noncompetition agreement.

Talking about how the drink tastes? Reviews of consumers abroad have been quite mixed. A few say that the energy drink is basically a Coke containing more of the amount of caffeine while others say that it tastes ‘chemical-like.’

The 4 upcoming beverages will likely be launched in the US in the first month of 2020. So, you can go ahead and taste it for yourself to know more about its taste.

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