Broadcom, a technology company specializing in semiconductor and infrastructure software, entered an agreement to acquire software company VMware for approximately $61 billion in cash and stock. Broadcom, in addition to its networking and data center solutions, develops optical components and photonic technologies, including displays, fiber optics, LEDs, motion control encoders, sensors, and co-packaged optics. VMware specializes in multicloud services for all applications and was a pioneer in virtualization technology and x86 server-based computing.
The transaction strengthens Broadcom’s position as an infrastructure technology company and expands its offerings portfolio. Following the transaction, Broadcom Software Group will rebrand and operate as VMware. The transaction is expected to be completed in Broadcom’s fiscal year 2023.
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