Broadcom officially announced the completion of its $69 billion acquisition of VMware
Following the Chinese government’s approval of Broadcom’s acquisition of VMware for $69 billion, Broadcom recently announced the official completion of this transaction. Consequently, VMware has ceased the trading of its common stock on the New York Stock Exchange.
Hock Tan, President and CEO of Broadcom, warmly welcomed VMware to the fold, emphasizing that the acquisition will significantly enhance the ability to assist global enterprises in embracing both private and hybrid cloud environments. He underscored the increased security and flexibility that this merger will bring. Furthermore, Tan highlighted Broadcom’s commitment to continuing its investment in acquisitions to propel further growth opportunities.
Moreover, Broadcom will persist in advancing the development of the VMware Cloud Foundation multi-cloud platform. This platform serves as a foundational element for both private and hybrid cloud development and aims to modernize and optimize cloud and edge computing through VMware’s suite of software technologies. This includes accelerating the deployment of cloud-native application services through the Tanzu product portfolio, as well as advanced network load balancing and network security technologies. Additionally, it encompasses software-defined edge computing tailored for telecommunications services and enterprise needs.
In previous commitments, Tan pledged an annual investment of $2 billion in VMware, half of which will be allocated to the research and development of VMware-related technologies, with the other half dedicated to promoting and accelerating the deployment of VMware solutions. Tan reiterated that the acquisition of VMware is poised to create greater market benefits, emphasizing that integrating VMware’s multi-cloud development model with Broadcom’s networking technologies will provide a more stable multi-cloud development environment for market clients.
