Broadcom Launches Catalyst Initiative To Grow Its Cybersecurity Market Presence

Broadcom Inc AVGO has announced the launch of Catalyst, an Accelerate Program expansion designed to enhance the go-to-market strategies and customer relationships for its Symantec and Carbon Black portfolios. The stock is trading higher Tuesday.

The global initiative involves critical partnerships with elite Enterprise Security Group (ESG) partners, who will take on primary roles in specific regions. The initial Catalyst Partners include TD SYNNEX for the Americas; Arrow Electronics for North, Central, and Southern Europe; MBCOM Technologies for Emerging Markets; Westcon-Comstor for the Asia Pacific; and Carahsoft Technology Corp. for the U.S. Federal Government, State, Local, and Education sectors.

The Catalyst initiative leverages Broadcom’s product innovation and a suite of enablement tools to help these partners drive substantial profit growth.

The program empowers local technical experts to provide value-added services and Tier 1 and Tier 2 support to customers using Symantec and Carbon Black security solutions.

Broadcom will continue to support these partners with product management, marketing, and sales operations resources, ensuring their success. Additionally, Broadcom will offer advanced Tier 3 customer support and engineering resources to maximize the benefits of its ESG solutions.

This initiative signifies Broadcom’s commitment to expanding its influence in the cybersecurity market through strategic partnerships.

JPMorgan analyst Harlan Sur predicted that Broadcom will have an artificial intelligence (AI) silicon market opportunity of over $150 billion in the next five years.

Broadcom stock gained over 74% in the last 12 months. Investors can gain exposure to Broadcom through Vanguard Div Appreciation ETF VIG and SPDR Select Sector Fund – Technology XLK.

Price Action: AVGO shares traded higher by 2.58% at $152.45 at last check Tuesday.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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