Broadcom Acquires VMware for $69 billion
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15:49, 23.11.2023
Broadcom, an enterprise software and security solutions company, has announced that it will begin negotiations regarding an acquisition deal in May 2022. Previously, the deal was valued at $61 billion before Broadcom agreed to take on an additional $8 billion of VMware debt. The companies postponed the deal's closing date three times due to regulatory nuances, but in November 2023, the agreement was finally formed.
The deal has already been called one of the largest in the technology industry.
The VMware purchase could expand Broadcom's business focus beyond chip manufacturing. VMware is considered one of the most successful cloud companies, very much so that large corporations use its software to manage private and public networks. By acquiring VMware, Broadcom wanted to provide its customers with the ability to create and personalize cloud environments.
In the final stages of the deal, VMware shares will no longer be present on the New York Stock Exchange.
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