Broadcom Inc. (NASDAQ: AVGO), a global technology leader that designs, develops and supplies semiconductor and infrastructure software solutions, is to acquire VMware, Inc. (NYSE: VMW), an Palo Alto, California-based innovator in enterprise software, for approx. $61 Billion in a cash-and-stock transaction.
In addition, Broadcom will assume $8 billion of VMwarenet debt. The transaction, which is expected to be completed in Broadcom’s fiscal year 2023, is subject to the receipt of regulatory approvals and other customary closing conditions, including approval by VMware shareholders.
Led by Raghu Raghuram, Chief Executive Officer, VMware is a provider of multi-cloud services for all apps, which pioneered virtualization technology, an innovation that transformed x86 server-based computing. Today, its multi-cloud portfolio, spanning application modernization, cloud management, cloud infrastructure, networking, security and anywhere workspaces, forms a consistent digital foundation on which the largest and most dynamic enterprises across industries build, run, manage, connect and protect their most important and complex workloads for the benefit of their customers.
Following the closing of the transaction, the Broadcom Software Group will rebrand and operate as VMware, incorporating Broadcom’s existing infrastructure and security software solutions as part of an expanded VMware portfolio.
By bringing together the complementary Broadcom Software portfolio with the leading VMware platform, the combined company will provide enterprise customers an expanded platform of critical infrastructure solutions to accelerate innovation and address the most complex information technology infrastructure needs. The combined solutions will enable customers, including leaders in all industry verticals, greater choice and flexibility to build, run, manage, connect and protect applications at scale across diversified, distributed environments, regardless of where they run: from the data center, to any cloud and to edge-computing. With the combined company’s shared focus on technology innovation and significant research and development expenditures, Broadcom will deliver compelling benefits for customers and partners.
Led by Hock Tan, President and Chief Executive Officer, Broadcom is a global technology leader that designs, develops and supplies a broad range of semiconductor and infrastructure software solutions. Its product portfolio serves markets including data center, networking, enterprise software, broadband, wireless, storage and industrial. The solutions include data center networking and storage, enterprise, mainframe and cyber security software focused on automation, monitoring and security, smartphone components, telecoms and factory automation.
FinSMEs
26/05/2022