Big tech deals keep coming: Broadcom buys VMware for $61B
Computer chip and software maker Broadcom will spend about $61 billion to acquire the cloud technology company VMware, one of the biggest deals of the year despite an environment of rising inflation and economic uncertainty. Broadcom wants to establish a stronger foothold in the cloud computing market and VMware’s technology allows large corporations to blend public cloud access with internal company networks. “VMware’s platform and Broadcom’s infrastructure software solutions address different but important enterprise needs, and the combined company will be able to serve them more effectively and securely,” Tom Krause, president of the Broadcom Software Group, said in a prepared statement Thursday. It’s anticipated that current Broadcom Inc. shareholders will own approximately 88% and current VMware shareholders will own about 12% of the combined company.
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