Broadcom completes VMware acquisition
November 24, 2023
Broadcom has completed its $69 billion (€63,1bn) buy of cloud computing firm VMware. The deal was scrutinised by regulators around the world ahead of final clearance from China.
The approval follows a meeting between Presidents Joe Biden and Xi Jinping at the Apec summit. VMware develops virtualisation software which allows a user to run a virtual computer on a physical computer to increase the efficiency of the computer system.
Broadcom’s president and chief executive officer, Hock Tan, said they were excited to bring together their teams to build “the world’s leading infrastructure technology company”.
To complete the deal, the firm has sought and received legal merger clearances in Australia, Brazil, Canada, China, the European Union, Israel, Japan, South Africa, South Korea, Taiwan and the UK.