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Home > Cloud Computing > Broadcom is acquiring VMware for $61 billion

Broadcom is acquiring VMware for $61 billion

Broadcom and VMware announced an agreement under which Broadcom will acquire all of the outstanding shares of VMware in a cash-and-stock transaction.

Erdem Yasar by Erdem Yasar
May 26, 2022
in Cloud Computing
2 min read
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Broadcom is acquiring VMware for $61 billion
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Broadcom, a tech company that designs, develops, and supplies semiconductor and infrastructure software solutions, and VMware, an enterprise software innovator, announced that Broadcom is acquiring all of the outstanding shares of VMware in a cash-and-stock transaction that values VMware at approximately $61 billion. With the acquisition, the company aims to add approximately $8.5 billion of pro forma EBITDA.

Rebranding as VMware

According to the announcement, after the acquisition, the Broadcom Software Group will rebrand and operate as VMware. Broadcom’s existing infrastructure and security software solutions will be incorporated as a part of an expanded VMware portfolio.

Raghu Raghuram, Chief Executive Officer of VMware
Raghu Raghuram, Chief Executive Officer of VMware

The acquisition will bring Broadcom Software portfolio with the leading VMware platform together to provide an expanded platform of critical infrastructure solutions. The combination will provide greater choice and flexibility to build, run, manage, connect and protect applications at scale across diversified, distributed environments, regardless of where they run. Raghu Raghuram, Chief Executive Officer of VMware said,

« VMware has been reshaping the IT landscape for the past 24 years, helping our customers become digital businesses. We stand for innovation and unwavering support of our customers and their most important business operations and now we are extending our commitment to exceptional service and innovation by becoming the new software platform for Broadcom. Combining our assets and talented team with Broadcom’s existing enterprise software portfolio, all housed under the VMware brand, creates a remarkable enterprise software player. Collectively, we will deliver even more choice, value and innovation to customers, enabling them to thrive in this increasingly complex multi-cloud era. »

The agreement has been unanimously approved by the boards of directors of both companies. As a result of the acquisition, VMware shareholders will receive either $142.50 in cash or 0.2520 shares of Broadcom common stock for each VMware share. The shareholder election will be subject to proration, resulting in approximately 50% of VMware’s shares being exchanged for cash consideration and 50% being exchanged for Broadcom common stock.

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Tags: Broadcom IncVMware
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Erdem Yasar

Erdem Yasar

Erdem Yasar is a news editor at Cloud7 News. Erdem started his career by writing video game reviews in 2007 for PC World magazine while he was studying computer engineering. In the following years, he focused on software development with various programming languages. After his graduation, he continued to work as an editor for several major tech-related websites and magazines. During the 2010s, Erdem Yasar shifted his focus to cloud computing, hosting, and data centers as they were becoming more popular topics in the tech industry. Erdem Yasar also worked with various industry-leading tech companies as a content creator by writing blog posts and other articles. Prior to his role at Cloud7 News, Erdem was the managing editor of T3 Magazine.

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