Semiconductor vendor Broadcom plans to purchase cloud computing agency VMware for a whopping $61 billion in money and inventory.
Broadcom described the acquisition as a part of its transfer to create a world infrastructure know-how firm. The corporate additionally introduced that its Broadcom Software program Group might be rebranded as VMware.
“VMware has lengthy been acknowledged for its enterprise software program management, and thru this transaction we’ll present clients worldwide with the subsequent era of infrastructure software program. VMware’s platform and Broadcom’s infrastructure software program options tackle completely different however vital enterprise wants, and the mixed firm will be capable of serve them extra successfully and securely,” mentioned Tom Krause, president of Broadcom Software program Group, in an announcement. “We’ve got deep respect for VMware’s buyer focus and innovation observe file, and look ahead to bringing collectively our two organizations.”
Safety-wise, the deal will convey Broadcom’s Symantec safety division and VMware’s Carbon Black unit beneath one roof. Broadcom acquired Symantec in for $10.7 billion in August 2019, and VMware purchased cloud-native endpoint safety agency Carbon Black for $2.1 billion in October 2019.
The deal is predicted to shut in Broadcom’s fiscal 12 months 2023, pending regulatory and VMware shareholder approvals.