Broadcom to acquire VMware for $61 billion
Broadcom has struck a deal with VMware that will see the chipmaker buying the cloud and virtualization software firm for around $61 billion in cash and stock. As part of the acquisition, Broadcom will also take on $8 billion of VMware's net debt.
When the deal is complete, Broadcom Software Group will rebrand and operate as VMware. As part of Broadcom, the new VMware will, the company says, "offer enterprise customers greater choice and flexibility to address the most complex IT infrastructure challenges".