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Broadcom No Longer in Talks to Buy SAS Institute, Sources Say – News


Talks for

Broadcom Inc.


AVGO -0.36%

to purchase SAS Institute Inc. have ended after the founders of the carefully held software program firm modified their thoughts a couple of sale, folks aware of the matter stated.

The Wall Avenue Journal reported Monday that the companies were discussing a deal that may worth SAS within the vary of $15 billion to $20 billion, together with any debt. Following the report,

Jim Goodnight

and

John Sall,

who co-founded SAS a long time in the past and nonetheless run the corporate, had a change of coronary heart and determined to not promote to Broadcom, the folks stated. Whether or not one other suitor for SAS might emerge isn’t clear.

Some SAS workers noticed the corporate as a wierd match for efficiency-focused Broadcom, among the folks aware of the matter stated. SAS is thought for a tightknit tradition and has a sprawling North Carolina campus with facilities together with a yoga studio and a disc golf course.

Cary, N.C.-based SAS sells analytics-, business-intelligence and data-management software program to enterprises. The corporate traces its roots again to the Sixties, when universities teamed as much as analyze troves of agricultural knowledge by means of a program known as the Statistical Evaluation System.

Broadcom, a semiconductor powerhouse constructed largely by means of acquisitions, has been on the hunt for a deal to beef up its presence within the corporate-software market. Its chief government,

Hock Tan,

stated earlier this 12 months the corporate would have a look at buybacks and presumably debt reimbursement, if it didn’t make an acquisition by the top of the fiscal 12 months. That sometimes ends in late October or early November.

Write to Cara Lombardo at [email protected]

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