Broadcom Completes Acquisition of VMware
Broadcom Inc. (NASDAQ: AVGO), a global technology leader specializing in semiconductor and infrastructure software solutions, has successfully completed the acquisition of VMware, Inc. As a result, VMware’s common stock will no longer be traded on the New York Stock Exchange (NYSE).
Hock Tan, President and CEO of Broadcom, expressed enthusiasm about welcoming VMware into Broadcom, aiming to merge their engineering-driven teams to build a leading infrastructure technology company. The focus moving forward is on empowering enterprise customers to develop and modernize their private and hybrid cloud environments. Broadcom plans to invest in VMware Cloud Foundation, along with offering a range of services for cloud and edge environments, such as VMware Tanzu for application deployment acceleration, Application Networking for Load Balancing, Advanced Security services, and VMware Software-Defined Edge for Telco and enterprise edges.
The acquisition’s impact includes the merger consideration elections by VMware stockholders, as previously disclosed by Broadcom. This strategic move aligns with Broadcom’s mission to bolster its position in critical markets, including cloud, data center, networking, broadband, wireless, storage, industrial, and enterprise software.
The announcement includes a cautionary statement regarding forward-looking statements, highlighting the risks and uncertainties associated with the acquisition and future business performance. Factors like maintaining relationships with partners, successful integration, financial implications, cybersecurity, global economic conditions, and regulatory changes are cited as potential areas of concern that may affect business operations.
Broadcom emphasizes the importance of these forward-looking statements and refers to its filings with the Securities and Exchange Commission for a comprehensive understanding of risk factors influencing their business. The company commits to periodic updates as required by law but states no obligation to publicly revise estimates or forward-looking statements except where legally mandated.
For more detailed information, refer to Broadcom’s official press release or SEC filings available at www.sec.gov.
Source:https://www.broadcom.com/company/news/financial-releases/61541
