Technology giant Broadcom on Monday announced the merger of the Carbon Black and Symantec businesses into a new unit tasked with combining network and data telemetry with Endpoint Detection and Response (EDR) technologies.

Chipmaker Broadcom formally announced its acquisition of Symantec's enterprise business after the closing bell on Thursday. Broadcom is paying $10.7 billion in cash, according to a statement. Broadcom stock moved up 1% in after-hours trading immediately following the announcement.

Broadcom is buying Symantec's enterprise security business for $10.7 billion, the companies announced Thursday. The deal effectively splits Symantec in two, with Broadcom taking ownership of its entire enterprise security portfolio and the Symantec brand name.

Chipmaker Broadcom is buying cybersecurity specialist Symantec Corporation’s enterprise security business for $10.7 billion in cash, the companies announced Thursday.

Broadcom Monday completed the blockbuster acquisition of Symantec’s $2.5 billion Enterprise Security business that was first announced in August.