Broadcom acquires VMware for US$61 billion

Broadcom just announced it will be acquiring VMware in a cash-and-stock transaction of US$61 billion (~S$83.88 billion).

VMware is known for its multi-cloud computing services and virtualisation technology while Broadcom is the leading provider of semiconductor and infrastructure solutions. 

Once the transaction is closed in fiscal year 2023, the Broadcom Software Group will rebrand and operate as VMware. The combined company will become "a remarkable enterprise software player" according to Raghu Raghuram, CEO of VMware. 

Broadcom's acquisition of VMware is one of the biggest tech deals behind Microsoft's $68.7 billion acquisition of Activision Blizzard, and Dell's $67 billion purchase of EMC.

Source: Broadcom