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July 12, 2021, 2:36 p.m. EDT

Broadcom in talks to buy software firm SAS

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By Cara Lombardo, and Dana Cimilluca

Broadcom Inc. /zigman2/quotes/200646538/composite AVGO -0.47% is in talks to buy SAS Institute Inc., according to people familiar with the matter, in the latest move by the acquisitive technology giant to beef up in enterprise software.

A deal, which would value closely held SAS in the range of $15 billion to $20 billion, could be finalized in the coming weeks assuming the talks don’t fall apart, the people said. That number is so-called enterprise value, some of the people 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 have risen around 50% over the past year.

Broadcom, a semiconductor powerhouse built largely through acquisitions, has been on the hunt for more deals since former President Trump blocked its quest to buy rival Qualcomm Inc /zigman2/quotes/206679220/composite QCOM +0.12% . in 2018, citing security risks. Broadcom has since moved its headquarters from Singapore to the U.S.

An expanded version of this article appears on WSJ.com.

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