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Broadcom Says Will Buy VMware in $61 Billion Deal to Diversify Into Enterprise Software

Broadcom Says Will Buy VMware in $61 Billion Deal to Diversify Into Enterprise Software r1n2h

The acquisition is the second biggest announced globally so far this year. 1f4p5e

By Reuters | Updated: 26 May 2022 17:24 IST

Broadcom Says Will Buy VMware in $61 Billion Deal to Diversify Into Enterprise Software

The deal would further diversify Broadcom’s business into enterprise software 5b494x

Highlights

Each VMware shareholder will get $142.50 (roughly Rs. 11,000) per share
Broadcom's shares were up 1.6 percent
Shares of VMWare were down nearly one percent in premarket trading

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Broadcom said on Thursday it will buy cloud service provider VMware in a $61 billion (roughly Rs. 4,73,223 crore) cash-and-stock deal to further diversify the chipmaker's business into enterprise software.

VMWare were down nearly one percent in premarket trading.

The acquisition is the second biggest announced globally so far this year, afterActivision Blizzard in January.

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Each VMware shareholder will get $142.50 (roughly Rs. 11,000) per share, resulting in a of over 48 percent to the stock's close since the deal talks were first reported on May 22.

VMware shareholders will get $142.50 in cash or 0.2520 shares of a Broadcom common stock for each VMware share held.

© Thomson Reuters 2022

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