VMware to be acquired by Broadcom

VMware Global Inc

Thursday, 02 June, 2022

VMware to be acquired by Broadcom

Broadcom and VMware have announced an agreement under which Broadcom will acquire all of the outstanding shares of VMware in a cash-and-stock transaction that values VMware at approximately US$61 billion, based on the closing price of Broadcom common stock on May 25, 2022. In addition, Broadcom will assume $8 billion of VMware net debt.

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 VMware platform, the combined company will provide enterprise customers with an expanded platform of critical infrastructure solutions. 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.

Image credit: ©stock.adobe.com/au/NicoElNino

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