Just In
- 11 hrs ago Xiaomi Smarter Living 2024 Set For April 23 in India; What to Expect?
- 12 hrs ago One UI 6.1 Update Brings Galaxy AI Features to S22 Series, Z Flip 4, Z Fold 4, and the Tab S8 Series
- 13 hrs ago Elon Musk's xAI Unveils Grok 1.5 Vision AI Model in Preview to Take on ChatGPT 4 Vision
- 13 hrs ago BAFTA Game Awards 2024 Highlights: Baldur’s Gate 3 Dominates, Nintendo and New IPs Shine
Don't Miss
- Finance Rs 17-26/Share Dividend: 1 Auto, 1 Textile Stock To Turn Ex-Dividend From April 18-19
- Sports RCB vs SRH, IPL 2024: Dinesh Karthik Cracks 35-Ball 83; Twitterati Say 'Never Seen A Commentator Bat So Well'
- Movies Bade Miyan Chote Miyan Vs Maidaan Box Office Collection Day 5: THIS Film Wins First Monday Test
- News Israel Will Respond Soon To Iran's Missile Attack, Says Israel Military Chief
- Education NEET PG 2024: Check the Registration and Exam Date Here
- Lifestyle Chaitra Durga Ashtami 2024 Wishes, Greetings, Messages, Images, Posters, Twitter, And Instagram Status
- Automobiles Navigating Through Car Insurance Options: A Guide For Indian Drivers
- Travel Maximise Your First Indian Adventure With These Travel Tips
Broadcom To Acquire VMware For $61 Billion; Third Largest Tech Deal In History
Chipset maker Broadcom has announced that it is all set to acquire cloud computing and virtualization tech company VMware in the coming year. Broadcom will be purchasing VMware for a whopping sum of $61 billion. This will be the third-largest acquisition in the tech world after Microsoft's upcoming Activision Blizzard deal ($69 billion) and Dell's purchase of EMC in 2016 ($67 billion).
Broadcom's VMware Acquisition Will Complete Next Year
Broadcom will be completing VMware's cash-and-stock deal by the end of 2023. The chipset maker will acquire the cloud computing pioneer's outstanding shares in a cash-and-stock agreement, which VMware has valued at around $61 billion. The deal is based on Broadcom's common stock on May 25. The acquisition will also include $8 billion of VMware's existing debt. After the announcement, Broadcom's shares rose by 1.6 percent, while VMware's fell nearly one percent.
Post the deal, each shareholder of VMware will be getting $142.50 for their shares of the company. There will also be an option to get 0.2520 shares of Broadcom's common stock for every VMware share. Once the deal goes through, Broadcom shareholders will own 88 percent of the combined brands, while VMware shareholders will own 12 percent of the stock.
The deal has been approved by Michael Dell and Silver Lake, which currently hold 40.2 percent and 10 percent shares of VMware, respectively. The largest shareholders have agreed to the transaction and it will go through if the VMWare board of directors continues to approve it. The $61 billion deal is backed by $32 billion in bank financing and will be closed in Broadcom's fiscal 2023, which runs till October next year.
Broadcom To Expand Its Software Portfolio By Acquiring VMware
By acquiring VMware, Broadcom will be expanding its software portfolio. The company will be rebranding its Broadcom Software Group to VMware once the deal is complete. The company will incorporate its existing infrastructure and security software solutions into VMware's portfolio. The combined company will be providing enterprise consumers with an expanded platform to address their complex information technology infrastructure requirements.
It's worth noting that this is Broadcom's second-biggest acquisition attempt. The company tried to acquire Qualcomm Inc. for more than $100 billion in 2018. However, the deal didn't go through after the Trump administration blocked the deal, citing concerns related to national security.
-
99,999
-
1,29,999
-
69,999
-
41,999
-
64,999
-
99,999
-
29,999
-
63,999
-
39,999
-
1,56,900
-
79,900
-
1,39,900
-
1,29,900
-
65,900
-
1,56,900
-
1,30,990
-
76,990
-
16,499
-
30,700
-
12,999
-
3,999
-
2,500
-
3,599
-
8,893
-
13,999
-
32,999
-
9,990
-
12,999
-
25,377
-
23,490