Broadcom finalises acquisition of VMware
Wed 29 Nov 2023
Broadcom has announced the completion of its acquisition of VMware. VMware’s common stock will now cease to be traded on the New York Stock Exchange.
Hock Tan, President and Chief Executive Officer of Broadcom, said: “We are excited to welcome VMware to Broadcom and bring together our engineering-first, innovation-centric teams as we take another important step forward in building the world’s leading infrastructure technology company. With a shared focus on customer success, together we are well positioned to enable global enterprises to embrace private and hybrid cloud environments, making them more secure and resilient.”
This acquisition reflects Broadcom’s strategy to reinforce its position in the cloud technology space. The immediate focus for Broadcom post-acquisition is to invest in and expand VMware Cloud Foundation, a cornerstone software stack for private and hybrid clouds.
“Broadcom has a long track record of investing in the businesses we acquire to drive sustainable growth, and that will continue with VMware for the benefit of the stakeholders we serve,” added Tan.
With this acquisition, Broadcom is set to bolster its offerings in the cloud technology sector, focusing on private and hybrid cloud environments, and delivering secure, resilient solutions to meet the evolving needs of global enterprises.
Broadcom previously won approval from the UK’s Competition and Markets Authority (CMA) for its £53.6 billion ($69 billion) plan to buy VMware, overcoming another obstacle for its acquisition. This is the biggest transaction the CMA has investigated to date.