Effective May 26, 2022, Broadcom acquires cloud computing company VMware in a $61 billion cash-and stock deal, the chipmaker’s biggest and boldest bid to diversify its business into enterprise software.
VMware, which was owned by Dell until it was spun off last year, focuses on cloud computing and virtualization technology.
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.
The deal is expected to close in Broadcom’s fiscal year 2023 and has the backing of Michael Dell who together with Silver Lake owns around 50 percent of VMware. If the deal closes, it will be one of the largest tech deals of all time.
For the official announcement of Broadcom, please visit: https://www.broadcom.com/company/news/financial-releases/60271.
For software licensing information on VMware products, please visit: https://www.schneider.im/software/vmware/.
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