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Broadcom Inc. 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 the corporate-software market.

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 dont 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 targets 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 Donald Trump blocked its quest to buy rival Qualcomm Inc. in 2018, citing security risks. Broadcom has since moved its headquarters from Singapore to the U.S.

Broadcom Chief Executive Hock Tan has been focused on diversifying beyond the companys core chip business and pushing into the lucrative software arena. In 2018, he struck a roughly $19 billion deal to buy software firm CA Technologies, formerly Computer Associates. The following year, Broadcom agreed to buy Symantec Corp.s so-called enterprise business for roughly $10.7 billion.

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Broadcom in Talks to Buy Software Firm SAS - The Wall Street Journal