SAN JOSE and PALO ALTO, Calif., May 26, 2022 – Broadcom Inc. (NASDAQ: AVGO), a global
technology leader that designs, develops and supplies semiconductor and infrastructure software
solutions, and VMware, Inc. (NYSE: VMW), a leading innovator in enterprise software, today
announced an agreement under which Broadcom will acquire all of the outstanding shares of VMware
in a cash-and-stock transaction that values VMware at approximately $61 billion, based on the closing
price of Broadcom common stock on May 25, 2022. In addition, Broadcom will assume $8 billion of
VMware net debt.
VMware, a leading provider of multi-cloud services for all apps, pioneered virtualization technology, an
innovation that positively transformed x86 server-based computing. VMware then created the softwaredefined data center and played a leading role in virtualizing networking and storage, before evolving to
become a hybrid cloud and digital workspace leader. Today, VMware’s multi-cloud portfolio, spanning
application modernization, cloud management, cloud infrastructure, networking, security and anywhere
workspaces, forms a flexible, consistent digital foundation on which the largest and most dynamic
enterprises across industries build, run, manage, connect and protect their most important and complex
workloads for the benefit of their customers.
Following the closing of the transaction, the Broadcom Software Group will rebrand and operate as
VMware, incorporating Broadcom’s existing infrastructure and security software solutions as part of an
expanded VMware portfolio.
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