Original Post May 24, 2022, 09:46 –

The acquisition of cloud and virtualization giant VMware by chip giant Broadcom is about to be announced, stakeholders told the Wall Street Journal. The deal will cost $60 billion and translate to around €56 billion. The deal will be announced on Thursday.

Broadcom is known as a hardware-oriented company with a wide range of products powered by chips and semiconductors. VMware is the opposite; A company specializing in cloud computing and virtualization.

Meanwhile, VMware is Intel’s rival in several respects, as current Intel CEO Pat Gelsinger previously served as VMware CEO for almost 10 years. It is no accident that Intel has invested heavily in cloud products and applications led by Gelsinger.

There have been reports lately that VMware has been taken over by Broadcom. Reuters and Bloomberg, among others, reported the same thing, but this is the first time a tangible amount has been mentioned. If the €56 billion amount is correct, it’s one of the biggest tech acquisitions ever, although Microsoft’s acquisition of Activision-Blizzard remains the sole dominion in this space.

Update May 26, 2022, 15:39 –

Both companies have officially announced the acquisition. Broadcom will acquire all outstanding VMware shares in a cash and equity transaction valued at approximately $61 billion. It will also take over $8 billion in net debt.

The deal has yet to be approved by the appropriate regulatory authorities and various organizations, including VMware shareholders. The Broadcom acquisition is expected to close in fiscal 2023 – before the end of October 2023.

Sources: Wall Street Journal (paywall), The Register, via Broadcom

Source: Hardware Info

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