Broadcom Completes $69 Billion Acquisition of VMware in Landmark Tech Deal
Broadcom, the leading computer chip maker headquartered in San Jose, California, has successfully finalised its $69 billion acquisition of VMware, a prominent cloud computing firm based in Palo Alto, California.
This acquisition, one of the largest in the technology sector, faced intense scrutiny from global regulators before receiving the final clearance from China.
The deal’s approval comes after a crucial meeting between Presidents Joe Biden and Xi Jinping during the Apec summit in the US last week, alleviating concerns about potential complications arising from US-China tensions.
Broadcom specialises in designing, developing, and supplying semiconductor chips, along with providing infrastructure software solutions.
On the other hand, VMware is known for developing virtualization software, enabling users to run virtual computers on physical systems, thereby enhancing efficiency.
To secure regulatory approval, Broadcom successfully navigated legal merger clearances from multiple countries, including Australia, Brazil, Canada, China, the European Union, Israel, Japan, South Africa, South Korea, Taiwan, and the UK. With the completion of the acquisition, VMware’s shares will cease trading on the New York Stock Exchange (NYSE).
Broadcom Completes $69 Billion Acquisition of VMware in Landmark Tech Deal
Broadcom, the leading computer chip maker headquartered in San Jose, California, has successfully finalised its $69 billion acquisition of VMware, a prominent cloud computing firm based in Palo Alto, California.
This acquisition, one of the largest in the technology sector, faced intense scrutiny from global regulators before receiving the final clearance from China.
The deal’s approval comes after a crucial meeting between Presidents Joe Biden and Xi Jinping during the Apec summit in the US last week, alleviating concerns about potential complications arising from US-China tensions.
Broadcom specialises in designing, developing, and supplying semiconductor chips, along with providing infrastructure software solutions.
On the other hand, VMware is known for developing virtualization software, enabling users to run virtual computers on physical systems, thereby enhancing efficiency.
To secure regulatory approval, Broadcom successfully navigated legal merger clearances from multiple countries, including Australia, Brazil, Canada, China, the European Union, Israel, Japan, South Africa, South Korea, Taiwan, and the UK. With the completion of the acquisition, VMware’s shares will cease trading on the New York Stock Exchange (NYSE).
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