European Commission Approves Broadcom's Acquisition of VMware
SAN JOSE, Calif., July 12, 2023 -- Broadcom Inc. (NASDAQ: AVGO), a global technology leader that designs, develops and supplies semiconductor and infrastructure software solutions, received conditional approval today from the European Commission to complete its acquisition of VMware, Inc. (NYSE: VMW).
With this decision, the Commission recognizes the importance of this combination in enabling enterprises to accelerate growth and momentum in the multi-cloud ecosystem, and in expanding customer choice and creating more potential for increased innovation and competition.
Broadcom has also received legal merger clearance in Australia, Brazil, Canada, South Africa, and Taiwan, and foreign investment control clearance in all necessary jurisdictions.
While Broadcom believes that its proposed acquisition of VMware will only increase competition and innovation in cloud computing, Broadcom provided the European Commission with a technology access remedy that preserves interoperability, a core principle that would not have changed as a result of this transaction. Broadcom did this to fully address the concerns expressed by the European Commission, and Broadcom welcomes the Commission's decision to accept this access remedy.
Broadcom looks forward to continuing to work constructively with regulators around the world. Broadcom is confident that when regulators conclude their review, they too will see that the combination of Broadcom and VMware will enhance competition in the cloud and benefit enterprise customers by giving them more choice and control over where they locate their workloads. Broadcom continues to expect that the transaction will close in its fiscal year 2023.
About Broadcom Inc.
Broadcom Inc. (NASDAQ: AVGO), a Delaware corporation headquartered in San Jose, CA, is a global technology leader that designs, develops and supplies a broad range of semiconductor and infrastructure software solutions. Broadcom's category-leading product portfolio serves critical markets including data center, networking, enterprise software, broadband, wireless, storage and industrial. Our solutions include data center networking and storage, enterprise, mainframe and cyber security software focused on automation, monitoring and security, smartphone components, telecoms and factory automation. For more information, go to https://www.broadcom.com.
|
Related News
- The European Commission opens in-depth investigation into Qualcomm's proposed acquisition of NXP
- Broadcom Completes Acquisition of VMware
- Broadcom to Acquire VMware for Approximately $61 Billion in Cash and Stock
- Synaptics to Acquire Rights to Broadcom's Wireless IoT Connectivity Business
- Cypress to Acquire Broadcom's Wireless Internet of Things Business
Breaking News
- MIPS Releases P8700, Industry's First High-Performance AI-Enabled RISC-V Automotive CPU for ADAS and Autonomous Vehicles
- Panasonic Automotive Systems and Arm Partner to Standardize Software-Defined Vehicles
- Ceva, Inc. Announces Third Quarter 2024 Financial Results
- Logic Fruit Technologies Launches JESD204D Transmitter and Receiver IP - Advancing High-Bandwidth Data Solutions
- Sondrel announces that it is opening up its library of IP for licensing
Most Popular
- Tessolve to Acquire Germany's Dream Chip Technologies
- Jolt Capital buys and invests in Dolphin Design's carved-out mixed-signal IP activities
- Ceva, Inc. Announces Third Quarter 2024 Financial Results
- Siemens' Tessent In-System Test software enables advanced, deterministic testing throughout the silicon lifecycle
- Sondrel announces that it is opening up its library of IP for licensing
E-mail This Article | Printer-Friendly Page |